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Tech Lowdown: MTD platform, Open Banking and apps

29th Aug 2019
Marketing manager
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Tech Lowdown

Welcome to our weekly round-up of the latest news and updates from the accounting tech world. 

This week sees the release of a new banking app for small businesses and the new Xero HQ VAT.

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Xero HQ VAT is now available to Xero users

Xero’s HQ VAT platform is now included in the product subscription of all UK partners.

Accountants can use the platform to see a single overview of all their clients’ Making Tax Digital for VAT returns, including an up-to-date view of when the VAT returns are due and real-time visibility on the status of the returns.

Partners can access the tool via Xero HQ or from within their client’s Xero subscription.

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Clear Books registers with the FCA in preparation for Open Banking

Clear Books has become an ‘Account Information Services Provider’ (AISP) after registering with the Financial Conduct Authority (FCA). In the short term, the registration will allow the accounting software provider to provide Open Banking feeds to its users in compliance with the PSD2 regulation, which will replace older technologies with more secure data feeds from 14 September 2019.

“By registering as an AISP, Clear Books will be able to continue providing vital bank transaction information automatically and securely to our users’ accounts,” said Clear Books CEO Ruth Fouracre.

Besides the new bank feeds, Fouracre explained that the FCA registration will bring other advantages in the future. “Closer integration between financial institutions and accounting software providers promises quicker processes, more timely business information and confidence in the accuracy of tax returns for customers,” she said.  

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Slide launches on the App Store

Cash management software provider Cashfac has announced the launch of its small business banking app Slide, which is now available for iPad and iPhone.

The free app combines payment, receipt and information from the company’s bank account for a complete finance view in real time. In its first release, the app includes cash flow forecasting functionality and connections to Barclays, First Direct, HSBC, Lloyds and Santander.

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