Over recent years individuals, businesses and companies have been affected by changes to legislation about how financial data is submitted to HM Revenue & Customs. These changes include, amongst other things, the introduction of submission of financial statements of companies in iXBRL format and the implementation of Real Time Information requiring online recording of every payment within a tight deadline made to an employee under PAYE.
As these more complicated and sophisticated requirements have come into effect, our practice has needed to evolve to accommodate them, thereby causing us to adapt our systems in order to comply.
As such we needed to use our time in a more efficient manner.
We try to reduce the amount of time spent on data inputting by making use of other sources of data such as online banking, bank feeds and utilising Agent access for our clients who bank with HSBC, Barclays and TSB. In doing so we are able to analyse the data more efficiently and thereby spend more time on the accounting aspects and generation of more useful information.
Whether we utilise an accounting package, such as Quickbooks or Xero, or if we simply make up your accounts manually, you can be assured that we are doing so in the most efficient means possible.