Digital accounting is big news for businesses.
From April 2019, the government is implementing “making tax digital”. “Making tax digital” is somewhat misleading and is in fact a requirement for a business to change its accounting systems, not just tax. It will ultimately involve businesses ensuring they are in a position to digitally report their accounting information to HMRC on a quarterly basis. Businesses will no longer be able to rely on Excel Spreadsheets and desktop accounting packages. They will instead be required to use cloud based accounting software which has the capability to communicate with the systems used by HMRC. For every business, this will be an unavoidable change, and with a variety of software available, understanding which suits your business can be daunting.
However, O’Brien & Partners believes that this presents a real opportunity for businesses to gain efficiencies and greater visibility over their day to day accounting function. With this in mind, we have developed an expertise in cloud based accounting, ensuring that our accounts staff are fully certified users of the main cloud accounting packages. We have also recently appointed expert, Gillian Ormiston, to assist our clients with the transition of their accounting systems to cloud based packages and advise on the efficiencies the packages can bring.