Online retailers: Make the most of the new tax year
Now is the perfect time to boost your tax efficiency, get organised and make a fresh start to the new tax year.
Take advantage of our introductory offer throughout May and start building your online business in 2018/19.
While the retail apocalypse continues to plague the British high street, online retailers have never had it so good.
People selling on platforms like eBay, Amazon and Shopify have more opportunities than ever before to generate sales and grow their online businesses.
Whether you are trying to turn your part-time side hustle into a full time job or you want to grow your online shop into a recognise brand, new tools make it easier than ever before.
Before you do anything else, however, it’s critical you get the financial side of things sorted.
Ditch the Excel spreadsheets
Excel spreadsheets are slow and lethargic. If you are still recording incomings and outgoings manually on your computer then you are wasting valuable time that you could be devoting to other areas of your business.
Accounting is a tedious business. Keeping a handle on spending, revenue, profits, taxes and everything else can make running an online business feel overwhelming.
You need a software solution that imports transaction information automatically and can run calculations to let you know how much you’re making, how much you owe in taxes and much more.
Sure, you have to pay for cloud-based accounting software but ask anyone who has built a successful online store and they will tell you that the time and hassle that is saves is well worth the expense.
How cloud accounting software benefits you
Cloud accounting software like Xero speeds up financial processes and can boost your tax efficiency.
The software has PayPal/bank feed integration, so all of your online transactions are imported into Xero every 12 hours.
Bookkeeping can be done within minutes and you can generate reports to help inform those all important business decisions.
Any expenses that you incur can be logged quickly. And you can save evidence by simply taking a photo of your receipts.
The software is cloud based, which means there are no gigantic upfront fees and you can access the software from anywhere.
You can access your business dashboard at home on your computer or monitor business performance in real time, wherever you are, thanks to the easy to use smartphone app.
Introductory offer from Cloud Accountant
Cloud Accountant offers all the help and support you need to run the financial side of your online selling business.
And all throughout May, Cloud Accountant is offering new clients discounted rates with the same high quality levels of service.
One of our accountants will get you set up on the software and integrate selling platforms so that sales update automatically into your accounts.
We’ll make sure you know what you’re doing and we’ll always be on hand to answer any questions if you get stuck.
Does your current accountant not understand eBay and Amazon selling? All of our accountants have experience working with online retailers and can solve the most common queries instantly.
All of our plans are tailored to suit your needs and there are no lengthy contracts or tie-ins, just friendly monthly rolling terms.
Extra support filing your taxes
Hate filing your taxes at the end of the year? Who doesn’t? But with Cloud Accountant fighting your corner, you’ll have a qualified accountant on hand to answer any queries without having to call up HMRC.
And because the software is all cloud based, it means that we can jump into your accounts whenever you ask us to and take a look at any issues right away.
Find out how much you could save today by speaking to the CloudAccountant Practice Manager. Call: 0808 281 0303 or email firstname.lastname@example.org