The Government’s Making Tax Digital scheme is up and running – so your business may need to act now: all businesses are required to submit VAT returns digitally via their accounting software.
For many businesses, moving to a new software package can be disruptive and time-consuming, but it does not need to be. Below is our quick guide to choosing the right software package – with more details on the site: https://tideaccounting.co.uk.
One of the most well-known suppliers is Sage – who have been making Accounting software for over 30 years. Their current offering is aimed at 2 business sizes: Small businesses with up to 20 employees and Medium Businesses with between 21 and 200 employees.
Small Businesses: For the vast majority of small businesses, Sage Business Cloud offers everything you may need now, and covers most of what your business will need in the future:-
- Send customisable invoices in seconds
- Generate cash flow forecasts and detailed business reports
- Add multiple users for real-time collaboration with accountants or employees
- Track cashflow, income, expenses, customers, suppliers and more
- Calculate and file your VAT under Making Tax Digital
Sage Business Cloud is priced as a monthly subscription and comes with the benefits of cloud computing which include automatic backups, work from wherever you are and compatibility across Windows, Mac, smartphone and tablet platforms.
If you require an on-site solution, then Sage 50cloud Accounts Essentials is the answer for the smaller business. The key benefits of Sage 50cloud Accounts Essentials are:
- Track cashflow, income, expenses, payments, customers, and more
- Manage your suppliers, from outstanding invoices to debt, performance and activity
- Create professional invoices and quotes
- Get real-time reports and dashboards
- Link with Paypal, Stripe, Sage Pay and other payment vendors for easy transactions
For solutions aimed at Medium Businesses, please see the following post here: https://tideaccounting.co.uk/making-tax-digital-choosing-your-software-medium-businesses/