CloudAccountant obtains Xero Platinum status

This month CloudAccountant are pleased to report that they have attained the prestigious Platinum partner status with award winning cloud accounting software Xero.

Platinum represents the highest partner status achievable and CloudAccountant have worked with the Xero team since back in early 2015 having embraced the platform as the leading player in the cloud accounting market. It was clear early on that this disruptive technology would enable a greater collaboration in real time with our clients and this has certainly proven to be the case.

9 unexpected benefits of online accounting software

There are all sorts of benefits of using online accounting software over spreadsheet-based or paper-based bookkeeping tools.
The main benefits are self-explanatory. Online bookkeeping is quick, cheap and accurate. But there are other, less well-known benefits that are also worth considering.

Inflation puts income squeeze on freelancers

Record levels of inflation could hit freelancers and other microbusiness owners harder than other workers if they have higher than average travel costs.
With inflation rising faster than average earnings, freelancers are facing a large squeeze on incomes.
Inflation, as measured by the Consumer Prices Index (CPI), hit a five year high of 3.0% last month.
Prices outstripped wage growth by 0.9%, with earnings only increasing by an average of 2.1% since the start of the year.

Xero: Fifth of Accountants still use ‘Dark Age Technology’

Cloud-based software company Xero has urged British firms to embrace new technology and step out of the ‘dark ages’ of accounting.
If they fail to update their systems, businesses and their accountants could be left behind in the middle of upcoming changes like Making Tax Digital.
The New Zealand software company kicked off the London-leg of the Xerocon 2017 tour by releasing a new ‘Digital or Die’ report, highlighting some of the most important issues facing the accountancy industry.

Boosting profitability with cloud accounting software
Editor | 16 September 2017
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Whether you are a freelancer, a small business or an accountant working freelancers and small businesses – improving profitability should be a key part of your financial management.
To improve profitability, you need to be more efficient with time and keep a sharp eye on invoices, expenses and the return on investment.
Cloud-based accountancy software systems Xero and FreeAgent help businesses track all of these factors in their projects facilities.

Should eBay sellers and Airbnb hosts pay tax?

Many Brits like to make some extra income by selling items on eBay or renting out a room on Airbnb, but many are unsure whether they have to pay tax on these earnings.
Now, cloud accountancy software company FreeAgent has warned these online sellers and room sharers that they could face a £100 fine if they don’t submit a tax return and risk further penalties for any outstanding tax.
HMRC is getting more sophisticated at tracking these kinds of online transactions and, as always, ignorance is not an excuse that washes with the taxman.

Xero enter into a partnership with Curve
Editor | 26 October 2017
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Xero, the online Cloud Accounting provider, have entered into a partnership with Curve to simply expense processing to such an extent that they claim they can make “expense admin disappear”

The beauty and simplicity of Curve is that it enables you to link multiple bank cards to one single Curve card which then links directly into Xero enabling Xero to import the right data for every single transaction.

With a fast and intuitive setup process and interface Curve is looking to remove as much of the manual administration possible from entering expenses. If you’ve ever had to go through your wallet to find those rail tickets and meal receipts you need to complete your expenses form you will know some of the pain that Curve can take away.

If you’re interested in Xero, Curve or Cloud Accounting in general then get in touch with us today and we can talk you through the benefits of each and have you up and running within 24 hours.

2% of small business owners have faith in late payments commissioner

Survey evidence has revealed that a tiny proportion of the smallest UK businesses believe that the newly appointed Small Business Commissioner will tackle the late payment crisis.
Research from cloud accounting software company FreeAgent shows that just 2% of UK microbusinesses believe that the new Commissioner, Paul Uppal, will take the challenge ‘seriously’.
Other research from the company shows the scale of the problem.

Small businesses waste 120 days a year on admin

Small businesses spend an average of 120 working days each year on repetitive administration tasks, with accounting tasks costing firms the most.

Sage, a market leader in cloud-based accountancy software, found that around 5% of a small businesses man hours are taken up by administrative tasks globally.

Compared with other countries in the study, Britain performs slightly worse with around 5.6% of staff time spent on back office tasks like invoicing and recruitment.

Sage argues that productivity is suffering because small businesses are spending too much time on tasks that don’t add value to the business.

Small Business Advice Week: Make sure you get paid on time

This week is Small Business Advice Week. Freelancers and other micro business owners can get lots of useful help and advice by visiting the Small Business Advice Week website and they can join in productive conversations happening on Twitter by using the hashtag #SBAW.
For our part, we want to address one of the biggest issues faced by small business owners – how to make sure they get paid on time.

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