Oxford businesses are gearing up for a big change to their accounting procedures, according to recent news reports. Most companies will have to fulfil their accounting obligations in a specified electronic format and will need to submit updates to HMRC every quarter, says government legislation. The new system of online accounting called Making Tax Digital is designed to be rolled out from April 2018 and Oxford business are being told to make plans for the change as soon as they are able.
One of the ways Oxford businesses can start getting their taxes in an online format is by using website accounting sites. Effective web design has made it easy for small and large businesses to simplify their accounting via the internet. For Oxford businesses looking to make the switch to digital, this is what you need to think about when choosing an online accounting firm.
Identify Your Budget
Online accounting for businesses varies in price depending on the features available and the type of package you choose. It is a good idea to look at a range of different options to see which is best suitable for your needs, as well as think about the budget you can devote to online accounting. There are free versions available with limited features and customer support, which may be suitable if you have limited accounting needs.
Think About Why You Need Accounting Software
In order to identify a budget and choose the best online solution, you need to think about why you need accounting software. Do you need a software package that helps you through every step of the accounting process? Or can you handle certain aspects by yourself, letting online accounting deal with the rest? If you are starting a business it is a good idea to set up a comprehensive tax solution right from the start so you are in the best place to handle your finances. If you are growing your business you may start to need more complicated systems.
Identify the Features You Need
According to Web design Oxford experts, accounting websites and apps offer a wealth of different features to help you sort out and control your finances. You certainly need to look carefully at the features that will be of specific interest to you and your Oxford business. It also helps to look at things like the ease of use – the website must be intuitive and well-designed – and good levels of customer service that can help you if you run into any issues that you cannot easily deal with yourself.
Web design Oxford
Image: Image courtesy of Stuart Miles/ FreeDigitalPhotos.net