Do you have to email spreadsheets between users or find that receipts disappear when you really need them?  You need to consider converting to a paperless accounting system for your business.

The first step should be using cloud based accounting software such as market leaders Xero or Quickbooks.

The Key Advantages being:

  • Access your accounts and financial figures at anytime, anywhere there's WIFI. 
  • Keeping you constantly connected to the business and the numbers.
  • Immediately approve payments, or send out invoices to customers, saving you time and making your financial processes more effecient.
  • Your accounts and records are all saved and backed up. You are always logged in to the most up-to-date version of the software, with the latest functions and tax rates.
  • Working with colleagues, and sharing data with your accountant, is very straightforward when you’re based in the cloud. 
  • With an online accounting system, you can massively reduce your reliance on paperwork. Invoices can be emailed out directly to clients, speeding up the payment process which is key to good cash managment.
  • Greater control of your financial processes.  Better visibility of the invoice process, giving you a better view of expected income, outstanding debtors and a clear breakdown of what each customer owes your business.

Incoming bills and receipts can be scanned and saved directly in your accounting software. The likes of Receipt Bank & Hubdoc capture your receipts and invoices, extract the data and record the transaction in your accounting software. No more paper receipts and removing the need for manual data entry. Making the gathering, storage and processing of bills, receipts and invoices easy and cost effective.

The Key Advantages being:

  • Save time and improve accuracy by uploading invoices into your accounting software.
  • Get your VAT right by automatically analysing your invoices and identifying the right amount of VAT to claim.
  • Process improvements by uploading receipts and invoices immediately rather than waiting till month end, reducing the risk of paper being mislaid, lost or destroyed.
  • It runs on the desktop, laptop, tablet or smart phone. Also phone apps for iOS and Android, and an app for the Apple Watch.
  • Seamless integration with Xero or Quickbooks, making claiming expenses easy.
  • Allows your workforce to upload their receipts and generate expense claims. 
  • Keeps copies of your receipts and supplier invoices, so you can go paperless.

It's a no brainer really!

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