Keeping paper records is quickly being consigned to history as Making Tax Digital (MTD) has changed how we work.
If you don’t know about MTD, you are likely to be a smaller business or a sole trader as you don’t need to file accounts digitally yet.
But for those with a turnover above the £85,000 VAT threshold, filing your tax records and returns is done digitally. If you aren’t using software yet, it may appear to be a little complicated. But in reality, going digital makes your life easier.
As well as eliminating the chance of losing paper receipts or bills, it increases the chance of your tax liabilities being correct. Who wants to pay too much tax? You can also access your accounts anywhere. If you already use banking apps, being able to keep up to date with transactions and accounts via a smartphone means you instantly know how your business is performing.
Using cloud-based accounting software also means you don’t have to worry about backing up your files. And by approving your accountant access, the days of carrying bags of paperwork to their office are long gone.
Converting from Quickbooks and Sage to Xero
There is a host of accounting software and if you already file tax records digitally you’ll be using QuickBooks, Xero, Sage or other software.
We are a Xero partner, and explain in another blog why we like Xero. One of the reasons is that you never have to upgrade to the latest version, as it happens automatically.
Also, you don’t have to worry about extra costs for additional users. But what if you use another piece of software?
One of the worries business owners have when moving accountant is learning to use new software. So is is easy to convert from Quickbooks and Sage to Xero?
You need not worry, however, because switching to Xero from QuickBooks or Sage is pretty straightforward. And if you choose to switch to us, we’ll help you every step of the way.
A simple switch
One of the misconceptions is that you will have to put aside a day or two to move all your financial information across. You don’t have to do that because we will do it for you.
Within a matter of hours, we can have all your data set up in Xero. We can extract your core accounting data from your QuickBooks or Sage back-up file and upload it into Xero.
This includes your customer and supplier account details and balances on all accounts, your chart of accounts and details of individual transactions. Xero does not charge for switching and you’ll be assured that as HMRC recognised software, you have peace of mind.
Xero is a highly intuitive and easy-to-use platform and we believe you will find it simple to get to grips with it. But don’t worry because we can provide training to help you.
So, if the idea of switching accounting software is putting you off switching accountants, don’t worry. Contact us today and let us explain why Xero will help make your tax affairs and life easier and how easy it is to convert from QuickBooks and Sage to Xero.