MTD may have been delayed for Sole Traders but that’s no reason to continue keeping your records on a spreadsheet. Digital accounting can bring many advantages to your business. 

We’ve been prepared for MTD for quite some time now and it’s made a huge impact for all of our clients. It means you no longer need to hoard mounds of paperwork as it’s completely paperfree.

We encourage our clients to upload their receipts and invoices to cloud software where it’s kept safe and secure and it’s easily accessible. The software also integrates with the accounting software we use so that the process is streamlined, meaning less room for human error. With the use of a mobile app you can even upload your receipts as you spend, in case your receipt should go missing before you get chance to save it somewhere safe. This eliminates the need for your bookkeeper to chase you for missing items too!

Digital accounting means you have access to your accounts in real time, giving you an accurate picture of how your finances look. This means you can quickly make important business decisions informatively. 

It also gives you so much time back. With the use of automation and integrations you no longer have to worry about chasing invoices. With electronic invoicing you can set repeat invoices and rules so that the client is chased if payment isn’t received within a set amount of time. You can even make it much easier for your clients to pay you by using payment links such as Stripe or Direct Debits with GoCardless.

With a bookkeeper working with you whilst using cloud accounting you’ll get a better insight into the future cash flow of your business. You can then plan ahead with the support you need to grow your business.