Cloud Based Packages
At Sence we work with a variety of cloud-based accounting packages, we don’t specialise in just one. Being a pro-active firm, our team keeps themselves up to date with the latest developments with each accounting package so that you as clients are using the right package for your business. We consider the individual features of each product before making a recommendation to you.
Making Tax Digital
Making Tax Digital (MTD) is a UK Government initiative, which is intended to make it easier for individuals and businesses to complete their tax returns accurately and manage their financial affairs more easily and quickly.
Removing paper returns from the system and handling tax administration online also creates efficiencies and time savings for HM Revenue and Customs (HMRC).
The first step in the MTD journey has been completed with the introduction of Making Tax Digital for VAT.
Many VAT-registered businesses, with a taxable turnover above the VAT threshold, are now required to use the MTD service to keep records digitally and use online accounting software to submit their VAT returns.
MTD for income tax will be introduced in the future, and we can help you migrate easily to online accounting so that you are ready to go when the Government makes this compulsory.
The live data that cloud-based bookkeeping and accountancy provides is constantly updated, making it much simpler to track your finances and always be aware of how much tax you will need to pay.
For the latest on Making Tax Digital, visit the gov.uk website.
Data Health Check
For those clients who come to us with data already on a cloud package we often provide a complimentary review of your data. We do this for a few reasons. It gives us a position of your data, in our technical terms, so in reality of how good is your book-keeping! We can then feed this back to you and give you any hints and tips for improvement. Lastly, it gives us the start of a plan of action as to how we can help you going forward.
Sence have been working with cloud packages for a number of years now and over this time we have being giving 1-2-1 training to clients teaching them how to transition to a cloud package and how to use this going forward in a way which will make their lives easier in running their business.
Training is very much tailored however; we do work to specific agenda’s and sessions to ensure all clients cover the same ground or ground they want to cover by the end of the training sessions.
We teach in blocks of time and it is broken down into bite-size chunks to suit. The team are all specialists in their own field so depending on what you want training on will depend on who trains you. We are also constantly training ourselves on the packages we use to ensure the clients are aware of the latest updates and features on them. We also prefer to offer a package suitable for the clients needs rather than choose one specific package to focus on.
More about Cloud Accounting
Cloud accounting systems are internet-based book-keeping packages.
We are proud that at Sence Accounting we were early adopters of cloud accounting. This means we have in-depth knowledge and experience in working with most of the cloud packages on the market.
We work independently and are not tied to one brand of the cloud-based solutions. This means we can advise you on what’s the best fit for your business. We work with Xero, QuickBooks, Free Agent, Kashflow and Sage as some of the more well-known products.
Our independent advice means you can get the online accounting software that suits you and your business. We can help you integrate the software into your financial processes smoothly and without fuss.