Cash accounting spawns new apps
Small business record-keeping apps are all the rage this week, after HMRC put out a statement announcing the availability of eight new record-keeping mobile phone applications for businesses below the VAT threshold.
Independent software developers including Sage and QuickBooks developer Intuit to a specification agreed with HMRC.
This lunchtime, the tax department unveiled a list of record-keeping applications on its website, but said it does not test them for accuracy or security.
Here are basic details of some of the first apps to be released:
- Forbes Receipt Keeper - Android only, records date, amount and descriptions.
- FreeAgent Central Earnest (iPhone) - described as a “scrappy little brother” to the web-based FreeAgent bookkeeping application, also includes elements that some users will know from the DoubleAgent app that can import receipt images from the iPhone camera.
- Quick File - Quick File is a relatively recent start-up that has gone for a pure web-based approach rather than the mobile app route chose by the other app developers.
- MyBizTracker is an iPhone app from Intuit, the company behind QuickBooks tracks income, expences and balance and can store photo records of invoices, bills and receipts.
- Sage Record Keeper (iPhone) is a free app that shows the cash balance for a selected period (month, year or tax year) based on details that have been entered. Sage Record Keeper can store photo images of receipts, expenses and can be backed up using iCloud. Sub-contractors within the Construction Industry Scheme can also use it to calculate and record their CIS deductions.
Other options are listed on the HMRC page, which adds, “This list is not exhaustive and it is probable that other software houses associated with mobile application development will also be developing applications. The list will be updated as necessary on a regular basis. Please note that the inclusion on this list of any trader or trade organisation does not imply any support, recommendation or certification of their software by HMRC.”