Digital Solutions

What are Digital Solutions?

Our Digital Solutions team can assess how well your current accounting package works for your business needs and recommend cloud-based solutions to improve the efficiency and effectiveness of your accountancy package to reduce time spent on manual tasks and streamline your processes.

What are the benefits of Cloud Accounting?

At MHA MacIntyre Hudson, we have partnered with major cloud software companies such as Xero, Intuit QuickBooks and Sage to provide our clients with a high quality, fully cloud based service and deliver a complete digital solution.

We are cloud accounting specialists and will make the transition to a digital accounting solution as straightforward as possible. With a nationwide reach and experts across all sectors, services and industries, we can help your business enter the digital world.

Our digital cloud accounting solutions can allow you to:

• Instantly access your business accounts
• Submit tax accounts straight to HMRC
• Access real time information about your business performance
• Set up automatic bank feeds
• Free up time to focus on your business
• Have multiuser access
• Eliminate certain manual processing tasks
• Improve profitability and cashflow

What we offer

• Financial Systems Review – Our specialist team can discuss your current finance processes and assess where time savings and other streamlined efficiencies can be made
• Cloud accounting demonstrations – We can visit you on site to provide an overview and demonstration of the key cloud accounting software and associated add on applications (apps) that are best suited for your business sector and individual needs
• Software licence package – We are Platinum partners with Xero and Quickbooks Online, two of the key cloud accounting suppliers. We are also partnered with Sage and a number of apps which integrate with accounting software. As such, we can provide you with a tailored software bundle for your digital solution.
• Implementation – Our expert team specialises in implementing your chosen cloud accounting solution and can provide an optional conversion of your historic data from previous financial systems
• Training – Our team can provide your staff with targeted training on your chosen software solution based around their roles in the business. We also provide web and email training resources to help you get up and running with the basics of your new system.
• Helpdesk – We run a phone and email support Helpdesk for your system queries. This provides you with reassurance and support throughout the transition period and subsequent months on your new system.
• Outsourcing – If you prefer, we have a dedicated team who can run your bookkeeping, prepare your VAT returns, run your payroll and provide human resources functions
• MTD Bridging solution – If you are VAT registered with turnover over £85,000, your current accounting system is not MTD compliant and cloud software is not right for you, then from April 2019 we can submit MTD compliant VAT returns to HMRC on your behalf
• Virtual Financial Director – If your business does not require a full time Finance Director, our team can provide this service including targeted support such as management accounts, budgets, forecasting and cashflow planning, industry benchmarking, VAT return reviews and key insights about your business sector.

Making Tax Digital

As you may know, the UK Government remains committed to roll out Making Tax Digital (MTD) in April 2019. This means that non-exempt businesses will have to keep digital accounting records and file information with HMRC quarterly.

What does this mean for your business?

Businesses need to ensure that their accounting records are “Digital” and, starting from April 2019, keep their VAT accounting records digitally. “Digital” excludes manual books and paper records.

Businesses will also be required to submit their VAT returns directly to HMRC in electronic format; it will no longer be possible to manually complete VAT returns on HMRC’s website. There are exemptions, but most businesses with turnover above £85,000 will need to start planning for Digital Tax today!

MTD Options

At MHA MacIntyre Hudson, we recommend our clients move onto cloud-based accounting systems to improve the quality, efficiency and accessibility of their financial information. An additional benefit is that many of our digital solutions are also MTD compliant, so from April 2019 you will also be able to file your VAT returns under the new system with minimal effort.

However, if you are on non-MTD compliant software, or if you wish to continue using spreadsheets to maintain your VAT accounting records, then we also provide an alternate digital solution. HMRC allow the use of bridging software to submit VAT returns electronically. This means that we can take an export from your current accounting system, or a copy of your spreadsheet records, and submit the relevant VAT return data direct to HMRC on your behalf using our in-house bridging software, keeping you MTD compliant.

Key steps you should take for MTD:

• If you are VAT registered with turnover over £85,000 you will likely fall into one of the following three categories:
• If you currently use accounting software, you will need to review your current accounting software to ensure that it will be compliant with the new rules by April 2019 or take appropriate alternate steps
• If you are currently using spreadsheets then we recommend you get in touch to discuss whether a cloud solution, outsourcing or our MTD bridging option may be right for you
• If you currently maintain paper-based manual records, then you must act now to be compliant for MTD from April 2019

Contact a member of our team today, who will be able to review if your current system meets pending requirements.

From brand new systems to updating non-compliant systems, our expert team will guide you to the right solution for your business and help every step of the way to get you up and running.

We have helped many businesses make the change to digital accounting and our nationwide, multi-disciplinary team can find you the most cost-effective options for your business processes.

Find out more

If you are interested in considering a cloud-based accountancy system, then we would be delighted to discuss this with you. Our Digital Solutions team will ensure that we implement an accounting solution that fulfils all your requirements.

Please contact us to discuss your cloud accounting needs and find out more about how we can assist you.