01908 219100

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Cloud Accounting

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We are proud to announce our recent partnership with 2020 Best British Bank award winner, Starling Bank. Being a Xero Platinum Partner, it is important to us that we partner with and refer banks that are compatible with the cloud software to our clients. Starling Bank offers a quick and easy set up made even easier using our new partner referral link. Starling links directly to Xero offering real-time transactional data at a click of a button. Starling also offer an easy to use mobile app, to give you quick an easy access to your bank account while on the go.

Starling Bank is a fully licensed bank and is part of the FSCS providing protection up to £85,000. Signing up to Starling is quick and easy, with the registration process only taking a couple of minutes. You are able to sign up on the go, with no branch visit or paperwork required. To ensure you make the most out of Starling, they offer 24/7 customer support ensuring you feel comfortable using the app software and utilise its capabilities.

To open a Starling Bank you must be a UK resident, and to utilise the business bank account there are a few other requirements you need to meet:

  • You’re the owner of a limited company and you’re the only person with significant control (PSC) over it. 
  • You’re part of a limited company with multiple owners. With Starlings multi-PSC account, you and your fellow PSCs (such as husband and wife or civil partnership teams) will each get a Mastercard debit card and access to a beautifully simple mobile bank account. Please note that you can have non-UK PSCs on the account, but only those who are UK residents and natural persons (i.e. no corporate shareholders) will have full access. 
  • You’re self-employed. Starlings sole trader account is available exclusively to those who already have a Starling Bank personal account.

For full business account terms click here.

Link your Starling business account with Xero to get…

  • An easy setup. No paperwork or week-long delays; just link your account to Xero instantly from the Starling Marketplace in a few taps.
  • Real-time transaction sharing. Your transaction data is shared automatically and instantly with Xero, which means no more overnight updates or download requests.
  • The full picture. Want to share all your past transactions with Xero too? No problem – you can effortlessly share every Starling transaction you’ve made since joining.

If you have any questions regarding the above please do not hesitate to contact us:

(E) enquiries@advaloremgroup.uk or (T) 01908 219100 (W) advaloremgroup.uk  

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Purchase invoice capture – a fundamental of the cloud accounting journey!

Being on the cloud to ensure MTD compliance is a good starting point, but now this change has happened, we should take advantage of the positives of using online book-keeping systems.

Invoice capture is as simple as it sounds, when you receive a receipt or invoice you can immediately capture this in software which is integrated to a book-keeping system. This can either be done by taking a photo or scanning the item.

Physical receipts and invoices can be captured by camera on a smartphone app and then anything received in email (regardless of the format of the file) can be forwarded to a specified email address and captured.

The major benefit of invoice capture is the fact that you are no longer required to hold on to endless amounts of receipts and invoices from the previous 7 years. HMRC have confirmed that digital copies are acceptable and often preferable as they do not age or fade and hold a date time stamp from the software against them.

Another benefit of using digital technology to read the receipt/invoice is the reduction in human error. We have seen the number of manual errors reduce on businesses who use invoice capture.

Capturing your receipts on the go and letting the technology take the strain both saves you time and also brings your books into real-time.

We have identified and developed a strong relationship with several invoice capture providers and if you would like to find out more please to get in contact with us!

AV Cloud | powered by Ad Valorem

01908 219100

enquiries@advaloremgroup.uk

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MTD will soon be upon us. Are you ready for April 2019?

Many people are afraid to move away from their existing accounting software; as they are satisfied and familiar with the usability of it. However, as MTD (Making Tax Digital) is soon to be upon us, it may be time for a change. If you want your business to operate quickly, smartly and much more efficiently, then Xero will be your answer. Xero is considered as the UK’s top leading cloud accountancy software systems currently on the market and with the help of our specialist cloud department (AV Cloud) and expertise, we will ensure you’ll have a clear and more desirable overview of your current financial position. It provides real-time information, accessible from anywhere and at any time.

So, how does the conversion work?

There are various ways of converting your accounting information onto Xero. ‘MoveMyBooks’ was purposely designed to transfer data efficiently and more at ease for those utilising either QuickBooks desktop/online and Sage50.

MoveMyBooks will allow us to follow an easy, step-by-step process of simply collecting your source data, adding a new account in Xero and then moving it all to your new online account. We will then wait for a confirmation email to come through and confirm the conversion has successfully been completed.

So, what will be converted?

The software will move the Chart of Accounts, Customer data, Supplier data and individual transactions for the current and previous accounting years. It will also transfer all the nominal/general ledgers as well as keeping all the customer and supplier balances identical.

On the other hand, if you have never used a software system to record all your workings on and have preferred to produce them manually onto Excel spreadsheets. Converting your data onto Xero is even easier. The process simply consists of downloading a CSV template, arranging all your information to correspond to the format of the template and then this will be imported onto Xero.

If you want to have a 30 day free trial run on Xero – click on the link and give it a go. click here

For more information about converting your accounting information onto this beautiful accounting software or to simply know the benefits of utilising Xero. Then, please feel free to contact us with no hesitation.

Our contact details are as follows:

01908 219100

enquiries@advaloremgroup.uk

For more information about AV Cloud click here

 

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