FINTECH & THE CLOUD

The cloud has made the business owner's life that little bit easier.  It helps you make that all important decisions based on real-time, informative, financial information.

 In April 2019, HM Customs and Excise are introduced Making Tax Digital, which will mean the end of annual tax returns. HMRC’s ambition is to become one of the most digitally advanced tax administrators in the world, modernising the whole system to make it more effective, more efficient and easier for customers to comply. This will affect business owners, landlords and individuals and will mean you have to keep your records digitally for submission.

We are a Xero partner firm and its the core of our business. Xero is a cloud-based accounting software used by millions of small business owners across the globe, it can be accessed on any device as long as you have internet. There is nothing to install, updates are free, it’s backed up automatically and all our staff are certified Xero advisors so we can guide you through the process.

Download the Xero app to your mobile device and you can work while you are on the move, it’s easy to send invoices, approve expenses, send quotes and reconcile. You are no longer tied to an office or the same desk every day, you could work from your favourite coffee shop.

FINTECH IS THE FUTURE

There are some smart developers out there writing business software that would only have been available to large companies previously; currently, there are over 800 apps that integrate with Xero available on the marketplace. No two businesses are the same, therefore different functions and facilities will be required for each client we work with.

Want to make your life simpler, we have just the app for you. Do you …..

Want to get paid quicker?

Few set up their business with a passion to spend most of their time chasing payments, installing an instant payment app means you can get the money you are owed on time.  There are also point of sale apps that can turn a smartphone or iPad into a portable till saving you some vital cash when starting up and stopping any bottlenecks at your service area.  

Get frustrated keeping paper receipts and then having to process them?

Most business owners find this tedious and would rather watch paint dry, its repetitive, somewhat predictable and data-rich so it makes sense to automate this.  Smart accounting technology not only helps the planet it helps you to simply record receipts, by photographing them on your phone. The software reads the picture, transcribes the data and sends it to Xero - pretty amazing huh!

Want to take the leap into e-commerce?

You want an online shop but there are now so many options besides your website you can sell through Facebook, Google, Amazon or eBay, expanding your reach in ways you didn't think possible. This may seem daunting but there are some great off-the-shelf apps that will manage this for you and integrate with your Xero account and we are very lucky to partner with some of them who keep us informed with any new features and updates.

Spend too much time worrying about cash flow?

Cash flow can be tricky for small business owners.  It caused 65% of business breakdowns in the last 5 years. But starting good habits early can make all the difference: get your cash flowing faster, boost your bank balance, save time and know where you are. Don't guess at what the future holds for your business see the figures brought to life, once you are armed with this plan don’t let it gather dust.

Rethink Accountancy can navigate this new Fintech landscape finding you all the best partners.