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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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Xero love making improvements, especially to make your experience even more simple and beautiful.

So, what’s new to Xero’s navigation bar?

Since receiving feedback from accountants, bookkeepers and other business users, Xero came to a conclusion that it was time to improve it’s navigation, making it easier, faster and more efficient for everyone to get on with their daily tasks.

The biggest enhancement is the way the accounting tools have been separated from the business features you use.

Click here to take a closer look at the improvements in Xero’s video guide.

Everyday activities have now been logically grouped, making it easier for a business user raise invoices and input bills on the go.

Business

The business menu contains the tools that you use the most, such as invoicing, bills and expenses. If you are searching for ‘inventory,’ it has now been renamed as ‘products and services’.

Accounting

The accounting menu contains the advisory and compliance tools, including bank accounts, reports and advanced accounting tools and settings, such as chart of accounts, manual journals and find and recode.

All reports, tools or settings that have been set as ‘Favourites’ will now show in the Accounting menu and you’ll be able to set your own favourites simply by selecting any of the options in the Advanced Accounting Settings. This will make it easier to find your favourite and most used reports!

Organisation menu

All information about your business can now be found in one place and that’s under the new organisation menu. You’ll be able to gain access from the top left of the navigation bar, by clicking on your organisation name.

Files and settings are all kept here. Settings are the business tools to get your business set up accurately, such as organisation details, invoice and email settings, users and subscription and billing details for subscribers. More advanced settings will appear in the Accounting menu.

If you run more than one business, you can now switch between the two accounts, saving you time not having to re-login.

Under the new ‘Do more with Xero’ section, you will now be able to connect to third party apps in the App Marketplace or other Xero features like payroll and projects.

If you would like to discuss the new changes to Xero in more detail, please feel free to contact us on the following details:

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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