7 things you need to look out for in MTD-compliant software

Posted by Capium on Oct 30, 2018 10:36:06 AM

Having the right software in place at the right time is key to Making Tax Digital (MTD) success – for both accountants and clients. After all, more frequent return submission means more information to process and a more significant workload, and the right technology helps keep processes efficient, profitable and secure.

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Topics: software, Tips and Advice, Digital Tax Guide, Online Accounting

Be a smart accountant, be a connected accountant

Posted by Capium on Oct 22, 2018 12:01:39 PM

Making Tax Digital (MTD) requires a dramatic shift in how accountants and their clients process financial information – both mindset and operations need to change to make MTD work in an efficient, profitable way. It’s time to shake off the shackles of being chained to legacy systems in a time where digital taxation is innovating to keep pace with other industries revolutionised by tech.

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Topics: Online account software, software, Tips and Advice, tax, Tax guide small practice, tax tips

"How do I communicate with clients about MTD?” [Accountant FAQ]

Posted by Capium on Oct 17, 2018 3:05:29 PM

Answers to frequently asked questions accountants often ask us about Making Tax Digital (MTD). This first FAQ is one of the most common, especially given that VAT is going digital starting in April 2019.

From all the industry discussion and HMRC guidance, we know that MTD needs to be a collaboration between accountants and companies. After all, accountants are reliant on regular data from clients, and there needs to be ongoing communication to comply with more frequent submission requirements.

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Topics: software, Tips and Advice, Online Accounting, tax, Tax guide small practice, tax tips

4 steps to preparing your clients for MTD

Posted by Capium on May 24, 2018 12:53:27 PM

Making Tax Digital is not far now...

There’s now less than a year to go until businesses above the VAT threshold will need to start keeping their accounting records digitally and submitting their VAT returns using MTD-compatible software.

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Topics: Blog

Boost practice efficiency with accountancy practice management software

Posted by Capium on Apr 17, 2018 1:33:56 PM

With the help of advancing technology, accountancy firms and other modern businesses can afford to focus some of their attention on streamlining their operations, with the aim of providing a more efficient service to increasingly expectant clients.

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Topics: Blog

Six ways cloud accounting software could future proof your accounts firm

Posted by Capium on Mar 15, 2018 12:00:00 PM

As a modern accounting firm it’s likely you’re under pressure to regularly alter your practices in order to keep up with your competition. If you’re still relying on traditional manual methods of managing your clients’ accounts this could be a time consuming and potentially expensive undertaking. However, if you embrace web based accounting software it’s possible you could ensure you keep up with your rivals while simultaneously future proofing your business.

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Topics: Blog

Five problems you could solve with accounts preparation software

Posted by Capium on Feb 26, 2018 12:50:49 PM

The accounting industry is evolving all time, but while this means greater value for clients it can mean an increase in problems and hurdles for small and medium sized accounting firms hoping to keep up with their competitors or meet the growing number of compliance standards required by external bodies.

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Topics: Blog

A Beginner's Guide to Accounts Production Software

Posted by Capium on Feb 13, 2018 2:00:00 PM

The accounting industry is quickly being transformed by the creation of new accounts software and specially designed bookkeeping tools. However, many of these innovations are aimed at making accounts easier for small businesses and self-employed workers who need an easy solution for a single tax return rather than for accounting firms.

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Topics: Blog

Tax Software for Accountants: The Benefits of Making Tax Digital

Posted by Capium on Jan 2, 2018 2:00:00 PM

The announcement that HMRC plans to implement a new electronic accounting system by 2020 will have huge implications for accountants, many of whom will need to change the way they work to meet the government’s new standards. However, the mass updating of systems likely to precede the launch of the Making Tax Digital plan could actually be a blessing in disguise.

 

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Topics: Blog

What is iXBRL? A Guide for Accountants

Posted by Capium on Dec 14, 2017 4:00:00 PM

As technology becomes an increasingly important part of business it’s vital for accountants to keep their software and accounting systems up to date. We’ve put together a guide on iXBRL, one of the most significant additions to the modern accounting process, to help you ensure you provide your clients with the most comprehensive and advanced service possible.

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Topics: Blog

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