Automate your practice and grow your client base with Nomisma
Running an accountancy firm is a huge responsibility with huge workloads! Much of which is manual making it hard to run a practice efficiently. Nomisma can help you automate bookkeeping, year-end accounts, self-assessment and payroll so you can concentrate on building your client base and business growth.
Importance of automating your practice
In the recent past and foreseeable future, the top focus of most accountancy practices has been automating their practice to benefit from increased time savings, efficiencies and business growth. With a lot of new changes surrounding MTD and COVID-19, it is now the best time to think about automation if you haven’t already done so. How automating your practice can help your business:
- Save you time to focus on value added jobs and sales/marketing
- Reduce manual work and increase efficiency
- Increase profitability to help you provide more services to your clients
- Create lots of happy clients!
The work involved with automating your practice
The downside of automation is the cost involved in investing on software necessary for this purpose. But going through this process will reap huge profits for your practice in the future. I’ve spoken to a lot of accountants who go down the path of automation only to get frustrated with the work involved in getting ready. When you begin your journey, you need to be mindful of the following:
- You’ll need to be acceptive of a change in processes
- There is a cost involved but it’ll pay for itself if implemented correctly
- You will need to spend time setting up the software with all the relevant practice and client details
- You will need to invest time in getting some training on the software (most software providers offer this, at Nomisma it’s free!)
- Finally, you need to be patient and go through the process one step at a time
In the end, you’ll see an improved work culture, increase in work efficiency, bigger profits and happy clients.
How can Nomisma help with your practice automation?
Nomisma is the ultimate cloud accounting software for accountants. We understand the world of automation best. 100’s of accountancy practices have already automated their practice with Nomisma. And this is how we can help you:
Payroll: Automate your payroll service by using auto payroll. Link to your pension providers to submit enrolment and pension contributions directly from within Nomisma. Make payroll profitable again, run a full payroll in just minutes per year instead of hours per month!
Bookkeeping: Bookkeeping is the heart of Nomisma’s cloud accounting suite. It’s where all the data is stored and distributed amongst other modules. Director’s salary once processed on payroll, is automatically transferred to bookkeeping and then to a self-assessment for filing. VAT returns are auto populated with data processed on the bookkeeping module and these details are also shared with the final accounts and corporation tax modules. With bookkeeping you can process director dividends as well sharing this with the self-assessment module.
Self-Assessment: Filing your self-assessment tax returns to HMRC has never been so easy! Employee details are shared from the payroll module with the employment pages on the SA100 tax return. Dividend details are transferred from across the bookkeeping module. For the rest of the data, you can send your clients a tax questionnaire by simply clicking on a button to gather information needed to complete the return. The SA dashboard also gives you quick access to the different pages of the tax return and the easy categorised menu on the dashboard shows you which pages you have completed which provides for an easy review process.
Final Accounts and Corporation Tax Return: Data from the bookkeeping module is automatically transferred to the final accounts and CT modules, negating the need to click on a button to export/import trial balances which will be the practice you currently follow if you are using two separate systems for bookkeeping and final accounts. All you need to do is to review your notes to the accounts, CT computations and file them with HMRC and Companies House.
Start the automation process!
Start your practice automation process and get in touch for a free trial. Contact today by calling on 020 3021 2326 or send an email to [email protected].