The Government will do it, by 2020 … we’re all slowly doing it… let’s make it official. Rather than being dragged, let’s get involved and on-board digital means to do our accounting.
Accounting Without Paper
Paperless accounting is a simple concept; it’s accounting with no paper!
Yes, it can be done and HMRC are going to enforce it and make it the only way. They’re labelling it "Making Tax Digital". It is the intention of HMRC that by 2020 all tax returns to HMRC must be digital, therefore paperless. Numberworx is already making the transition really easy for small business owners and ‘one man bands’. Numberworx is pioneering paperless accounting.
Your bookkeeping and accounting is important, you know that. Important to make sure legal deadlines are being met and vital for the financial health of the business. Whether you’re a consultant, dentist, builder or yoga teacher – either way, you’re in charge and in control of your own destiny, that’s so exciting! Running your own business can be extremely hard work but it’s incredibly rewarding when it goes to plan.
Amongst other things you’re in now charge of your bookkeeping and fiscal vitality. The upside - you stay in control, the down side - it’s another thing to do. What you need is to arm yourself with the right suppliers to take care of what we call here ‘walking backwards’ so you can concentrate on ‘walking forwards’ and the novelty of maybe enjoying a little well-earned free time!
When you’re an employee, your responsibilities are generally limited to your job description. Now you’re out there on your own, you’re responsible for everything! Daunting – often. To run the business well, whatever your industry, you must choose where you focus your energy.
To make a success of it that energy is usually best spent on your service or product and the delivery, promotion and development of it. Walking backward to us is concentrating on anything administrative. Not to cast it in a negative light but all the time you’re concentrating on the admin it doesn’t feel like you’re moving the business forward.
Calculate the relative cost of the admin, the currency being your time, energy and focus. Consider outsourcing this admin where you can to leave you able to ‘walk forward’!
Drive it forward, make it happen and you’ll reap the benefits of all your hard, concentrated work.
Here’s to our digital future!