Q) What exactly is ‘Digital Bookkeeping & Accountancy Software’?

A) Digital Bookkeeping & Accounting Software is very different to the old-fashioned software that used to sit within a computer only to be used at year-end to produce an historical record of your accounts. The newer software operates by giving each transaction its own website effectively. It’s a more dynamic system whereby you do the record keeping as you go and have an up-to-date picture of your business at any time. You can see who owes you and what you owe to others, and when payments are due. You can also produce reports such as a Profit & Loss or Balance Sheets at the click of a mouse, and you can track stock or compare regions, departments or accounting periods. Moreover, you can attach payment systems such as Paypal, Stripe or GoCardless and set up automatic email reminders for late payers. Research shows that these two factors alone mean you’ll get paid an astonishing 30% faster! Your accountant and/or bookkeeper can log in at any time to help you, and with live bank feeds half of the bookkeeping is done automatically without you having to lift a finger. Another great feature is that software updates happen automatically. There’s no having to go out and purchase a whole new lot of software because technology has moved on. I’m happy to provide demonstrations which can be part of your free consultancy meeting if that suits. If you’re a technology fan or you want to go paperless, you can run your business entirely from your phone, and that’s a real bonus because it means you can work whilst on the train or in the car between meetings. If you can get access to an internet connection wherever you are, then you’re ready to go.

Q) What if I want to do my own bookkeeping to keep my costs down, can you still help me somehow? 

A) Yes, whether you want to work with pencil and paper, spreadsheets or accounting software, I can teach you how to keep your books of account properly, and ideally you should prepare for this before you start your business! Meanwhile, back in the real world, it’s never too late to start keeping exemplary books of account such that the most discerning HMRC Inspector would be unable to find anything to complain about.

I can also help you to get set up with Xero Bookkeeping & Accountancy Software, and then teach you the basics before pointing you in the right direction for further study yourself which is free to access. If you want, I can help you to programme the software (according to the patterns of your spending and income) to speed up the bookkeeping process exponentially, and at any time you can come back to me for further support, especially at year-end when the bookkeeping becomes a bit more challenging. I can help out just when you need it, without any further obligation if that’s what works for you.

Q) How do I know I can trust the Torbay Bookkeeping practice and rely on your services?

A) I’m a Member of the Institute of Certified Bookkeepers, (http://www.bookkeepers.org.uk/), with Practice Licence Number 18410. As such, you can be assured that I’m insured, accredited and regulated by codes of Professional and Ethical Conduct. I have a Diploma in Self-Assessment as well as an HMRC Agent’s Account so you can rest assured that it’s all being done officially and properly. I’m a Certified Xero Adviser and can help you get set up with this world class software, which is approved by HMRC for Making Tax Digital.

There are some dire stories in the press about business owners who’ve trusted rogue ‘accountants’ or ‘bookkeepers’ and if they’re not registered with one of the recognised Professional Bodies, it could prove difficult to get any come-back. Believe it or not anyone can call themselves an ‘Accountant’ or ‘Bookkeeper’ even if they have no qualifications or experience……. and even if they’ve been convicted of fraud. I read about a bookkeeper who swindled one of her unfortunate clients to the tune of £100,000 She was imprisoned for two years and incredibly, is now back out and working as a bookkeeper (suffice to say none of the regulatory bodies will admit her).  It’s silly to take risks when it comes to your business and finances, so please don’t.

Q) Is the first hour of your time really absolutely free with no strings?

A) Yes, that’s right. You can use that hour to ask any questions you want about Bookkeeping, Year-End Accounts or Self-Assessment for your business or you can opt for a software demonstration if you prefer. We can meet on Video-Chat, over the telephone or in person. Whatever works for you.

Q) Can I trust the security features of your recommended Digital Cloud-Based Accountancy Software?

A) Yes. The security features of Xero Software are at the same high level you’d expect when using Online Banking. As long as you follow general online-safety advice, such as installing decent anti-virus software on your phone or computer, setting up secure passwords and installing updates when they arise, everything will be secure. Compared with non-digital software it’s a much safer option because if your computer breaks down, catches fore or or you suffer a break-in, everything is still safely stored in the cloud, behind a series of passwords and 2 step verification. The scammers can’t get their hands on your data no matter how much they want to, so they will focus their efforts elsewhere.

Q) How cheaply can you supply me with Xero-Bookkeeping Software?

A) Prices start as cheaply as £2.80 per month for clients using my other services, and that price is At Cost, and only available to Professional Bookkeepers and Accountants. I’m confident that you’ll find such great value in the other services that I provide, so I don’t need to try to make a profit from you out of the the software.

Q) You haven’t answered my particular question. How can I get in touch to ask it?

A) Call the practice on 01803 363089, message me via the Torbay Bookkeeping Practice Facebook Page or email me at torbabookkeepingpractice@gmail.com

I hope you enjoyed this Question & Answer Session. Have a great day everyone, please be safe online and Happy Bookkeeping 🙂

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