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Into the 21st Century

Into the 21st Century

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I would like to change the way in which I run my small practice, firstly due to HMRC's decision not to allow agents to download free CT600 filing software but mainly because of the impending changes within the profession.

Background: Since I started out on my own three years ago, I have built up a client base of around 80 clients across a broad range of trades and professions. Around 20 of these are small Ltd Companies with the rest being mainly Sole Traders with one or two partnerships, all of which keep manual records with Excel spreadsheets being as advanced as it gets. My entire operation is manual with copies of accounts and returns being stored on my hard drive.

I think I will be opting to use Taxfiler to file future tax returns but I am really confused as to how best to proceed regarding cloud accounting etc. I have been looking at Receipt Bank and FreeAgent. My main aim is to enable clients to send me all of their info digitally instead of dropping off paper based books and records but it's going to be a hard sell to justify any additional expense to my smaller clients.

Please help.

Replies (4)

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By petersaxton
02nd Apr 2016 01:55

There'll be a flood soon

Some of my clients use online bookkeeping and some are wanting to change. The vast majority wont want to change but they will have to when the proposals become law. I don't think you can change them until it becomes compulsory.

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By Mr Chips
02nd Apr 2016 13:35

Grasp the cloud or you will be left behind. Xero and receipt bank is great. I suggest you identify your clients who are willing to embrace technology and get them going.

Xero and Receipt bank will work with you to get things up and running and provide support.

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By pauljohnston
07th Apr 2016 12:10

Since you are paper and excel

I suggest you do it in stages. 

1 Go for Taxfiler now and start entering the basic data.  It took quite a time to do this and we used a temp to do it.

2 Choose your Cloud Accounting package after reading about pros and cons on Accounting Web  (if you want to use receiptbank then check that it can be integrated.  I know that Quickbooks and xero can) put your own business books on it.  This will allow you to find out the niggles.

3 Join receiptbank and start using on your own books again for find out niggles.

We are at 3 and starting to add clients (or persude them to add themselves).  Mark Wickersham (hope I spelt that right) has a system that means that you can be paid for this.

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Jessica Pillow
By Jessica Pillow
07th Apr 2016 22:45

Freeagent and Receipt Bank work well together

We've been using Freeagent and Receipt Bank with our smaller clients for the past 4 years and they love both softwares!  We don`t always use Receipt Bank if it's a really small client and they are doing their own book-keeping as they can attach their receipts within Freeagent themselves if they don`t have too many.

Freeagent is much easier to onboard clients onto than Xero as it's much more restrictive to use so they can't really go wrong.  Clients also love the dashboard which tells them everything including their deadlines.

I'd say keep going as you're doing :)

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