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Are digital accounts better than good old pen and paper?

Digital Accounts can save 35% of your time.  They are a cross between a smartphone anticipating what you want to do and an ‘Alexa’ assisting you in doing it.

The self-learning features in the new style of digital software make them so much more.   Their automatic functions replace the tasks that you just never get around to such as, Debt collecting, Confirming payments, sending statements and one of the most popular functions is there ability to scan a bill/receipt and save it. There are so many on the market..

Sage – Good for lots of stock
QuickBooks – Market leader
QuickFile . – Simplest
 Xero – Lots of apps to attach

Do you need to keep digital accounts ? What are your options ?

Small business with a turnover (income from your business) of less then £85k ? No, you do not have to be digital, the choice is yours.

If you have a business with over £85k turnover, you need to keep digital accounts but you don’t need to keep them yourself. With technology accountancy and bookkeeping fees have become more competitive.

Small business with a turnover of £85k – £120k. It is worth checking if it is worth being Vat registered? A consultation with an Accountant who offers a free consultation will help you look at alternatives.

Local Accountants offering a free consultation are

Jones Accountants – Morley or PC & Co Accountants – Bramley.

Getting professional advice also helps you to choose the best way to keep records without it taking precious time away from running your business.

Do you have questions about Making Tax Digital? I am happy to advise. Dinah Jones – Accountant , Business Advisor.

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