Online Accounting Services

Benefits of online software:

Automatic bank reconciliation - this feature is a live feed imported from your business bank account, PayPal or credit card and is then categorised so that your bank reconciliation can be carried out automatically by the software. Custom banking rules can be created to match more complex transactions.

Advanced financial reporting is essential, it is pointless updating on a daily basis if your reports aren't available to show you the data. Providers normally have a dashboard facility which you can design to your own needs to ensure that you keep on top of business performance with our guidance and assistance.

Online invoices are received by customers much faster than snail mail, therefore, you are much more likely to be paid quicker. The process is more efficient and you have a record when the invoice was opened as proof of delivery. A payment link can be placed on invoices to various payment options.

As long as you have an internet connection your data is available at your fingertips, anywhere, anytime.

Unlike a desktop application, you don't pay for the number of users able to access your software. Multiple users can be assigned and managed. Predefined roles are available to set users functions to what you want them to use and see.

Quick entry tools allow you to enter high volumes of data, such as bulk purchases or invoices, saving time, improving efficiency and reducing errors.

Making Tax Digital (MTD)

Whatever you feel will be of benefit to your financial reporting process, just let us know, we will find the best solution for you. Making Tax Digital for VAT commenced in April 2019 and is now mandatory for all VAT registered companies.

Making Tax Digital is also extending to other areas of tax, the next big one being, self-assessment tax returns in April 2024 which will be followed by Corporation Tax in April 2026.

Challenges you may face with MTD:

Converting manual records to a digital version
Converting spreadsheets into recognised accounting packages
Keeping software that will link directly with HMRC
Upgrading old software that will not be compatible for MTD purposes
Adapting bespoke software
Additional costs associated
Additional time processing

How can we help

Assisting in selecting the most appropriate software for you and your business
Implementing the software with you to fit your bespoke business needs
Provide training initially and then as and when required
Take the headache away and provide a full bookkeeping package, together with business support and advice.

Cloud Accounting Statistics

94%

of SME's report benefits

91%

of our bookkeeping clients use cloud accounting

82%

of SME's report reduced costs

What our clients say

“We have been working with the Online Services Team at Pierce’s for almost a year and from the outset our experience has been very positive. Their advice has been invaluable, relevant and delivered in a helpful and knowledgeable way at every level. ”

Trevor Dawson Limited

C E James, Managing Director

“The Online Service that Pierce offer has proved to be invaluable in the running of our business. The team are always professional, efficient and helpful in providing guidance and assistance as and when required.

We would highly recommend this first class, hassle free and affordable service to anyone considering using Pierce Online Services to help their company. ”

Ruth Crompton

Director

“Since joining and working with Pierce Accountants and their online team we have been delighted with the levels of service and helpful advice that have been given. From working through changes to our current systems to suggestions as to best practices moving forward especially moving online the team has helped us understand and work towards the better solutions that are on offer. We would not hesitate in recommending their services to anybody.”

Philip Ainsworth

Director

“The Pierce Online Services team provides our company with invaluable support and guidance and is proactive in keeping us up-to-date with our accounting systems. This gives us peace of mind to be able to get on with what we do best, knowing our accounting is in good hands.”

Carly Sears

“We started using the online services team during COVID and migrated our accounts from SAGE to XERO – it was a big decision and was quite a complex process but the team at Pierce looked after the whole process and created our new systems, all of which are online and much simpler and easier to use. The added benefit is that our year-end accounts are now much easier to produce and therefore have reduced our overall account fees as well as our monthly subscription costs.

Now we are in the routine of using the software, I am very pleased with how we work things with the online services team and they are always at the end of the emails or calls to help, support and guide me. We check the accounts each quarter to tie in with the VAT returns and know that everything is correct throughout the year.

It is a much more modern and easier way of working, but still, with the personal support I would want from the accountancy team”

Helen Kay

Director

“The Online Services team is always available to speak to and very helpful. All staff that I have dealt with are extremely pleasant, efficient, and professional. ”

Patricia Da Silva

Director

“Elizabeth and I would like to thank Georgina for all that she has done for us in the past year and in years past. Our records are safe in her hands and we haven't had any problems to resolve. Georgina's knowledge of Sage bookkeeping is immense and when we have any questions to ask they are answered very quickly.”

Nigel Platt

Director

“The support and help from the Online Services Team has been fantastic, they always respond quickly to your queries and are always happy to help and resolve any issues promptly. A lovely team to deal with! ”

Jeanette Berry

Director

Mark Whitehead

Online Services Manager

Georgina Dewhurst

Online Services Advisor

Peter Grady

Online Services Advisor

Shauna Williamson

Online Services Advisor

Sufyaan Loonat

Online Services Advisor

Cara McGrillen

Online Services Advisor

View our full team

Frequently Asked Questions

MTD for VAT is new legislation that requires all VAT registered businesses to keep their records digitally and submit their VAT returns using MTD compatible software. Businesses will no longer be able to use HMRC Online Services to submit their returns.

We recommend signing up for MTD for VAT as soon as possible with HMRC to avoid surcharges.

Cloud accounting software is accounting software that is hosted on remote servers. It provides accounting capabilities to businesses in a fashion. Data is sent into "the cloud" where it is processed and returned to the user. Xero, Quickbooks and FreeAgent are primarily the cloud packages we use which we will assist in selecting the most suitable software for you.

No. From April 2022, all VAT registered businesses must submit returns using MTD compatible software and they may receive charges from HMRC if they do not.

Unless your VAT returns are being submitted by an agent then you will need to create a government gateway ID. We do however recommend that all businesses set up a government gateway ID regardless of this so that you can supply HMRC with bank details for Direct Debit payments and automatic refunds.

Yes, we most certainly can.

Spreadsheets can be used to keep digital records – businesses will still need bridging software to submit VAT Returns digitally however.

You will have bank feeds, rules and live reconciliation which will speed up the processing and give you timely up-to-date information. You can log in anytime, anywhere with an internet connection. You are no longer tied to your office. You no longer have to worry about updating your pc(s) and network – bonus!

Once you have registered with HMRC, it can take up to 72 hours to receive confirmation from them. When you receive confirmation from HMRC, you will be able to use online accounting software for your MTD VAT Returns.

These show the link between the output and input tax in your records – as well as the output and input tax on your return.

Further information can be found in HMRC’s Notice 700/22 (the link is at the bottom of the Making Tax Digital for VAT section).

The same information as before – the standard nine-box values, plus details identifying your business. Additional information might be required in the future, but the details and timings haven’t been specified

Benefits of online software:

Making Tax Digital (MTD)

Challenges you may face with MTD:

How can we help

Cloud Accounting Statistics

What our clients say

Frequently Asked Questions

Free, No Obligation Initial Consultation

Got a question?