As professional cloud accountants, our goal is to make it easier for individuals, startups and SMEs to manage their business finances. We do this by creating digital accounting systems tailored to your unique needs, using cloud software and apps that encourage collaboration and improve efficiency.
These tools ensure your compliance with HMRC’s digital tax regulations and help streamline your financial processes. From creating invoices to tracking expenses and managing payroll, cloud accounting software means less time spent on tedious paperwork and more time to focus on your growth.
With more than 40 years of financial experience, our dedicated team of cloud accountants in York are here to support you every step of the way. Whether you need help troubleshooting your current accounting system or want to start your new business on the right foot, we can help set you up for success.
Contact Mollan & Co today
What is Make Tax Digital?
Make Tax Digital is a UK government initiative that aims to transform the tax system by making it easier for businesses and individuals to accurately and efficiently manage their taxes.
Under Make Tax Digital, businesses and individuals are required to keep digital records of their income and expenses, as well as submit their tax returns to HMRC online. This includes Income Tax, VAT returns, and Corporation Tax.
From 2022, the regulations apply to all VAT registered businesses, and will also be rolled out to landlords and self-employed individuals earning more than £50,000 a year from 6th April 2026. If you have an annual business or property income of more than £30,000, you will need to follow these rules starting in April 2027.
Why Use Cloud Accounting
- Personalised Support: Tailored cloud accounting services to suit your unique needs, whether you’re a startup business or an established enterprise.
- Real-time Access: Get instant access to your financial data from anywhere so you can make informed business decisions without delays.
- Automated Processes: Save time and reduce the risk of errors associated with manual record-keeping.
- Easy Collaboration: Work seamlessly with the rest of your accounting team via secure data sharing and communication tools.
- Scalable Tools: Effortlessly scale your cloud accounting as your business expands, without disruptions or delays.
- Boost Productivity: Speed up your workflow with user-friendly tools that maximise efficiency.
- Robust Security: Benefit from advanced security measures to safeguard your financial data.
Your Cloud Accounting Setup
1) Let’s Get Started
Once you’re signed on with Mollan & Co, we’ll review your business requirements, financial objectives and technical ability.
If you already use cloud accounting software, we’ll ensure we have an accurate picture of your existing setup so we can assess it for improvements.
Our aim is to make sure we can work together effectively and efficiently, so you have more time to focus on running your business.
2) Choose Your Bookkeeping Model
If you choose to do your own bookkeeping, we’ll review your business and financial objectives to help optimise your reporting process and increase productivity. We may suggest changes to your technology setup, including recommendations for platforms that would better suit your needs.
If you would prefer to use our in-house bookkeeping services, we will introduce you to Dext. Previously called Receipt Bank, this handy app allows you to take photos of invoices and receipts, and upload them directly to the Cloud so we can access them in real time.
We will also request you securely connect your bank accounts, so we have read-only access to daily bank statements and can regularly reconcile your accounting.
3) Download the Apps and Software
Once we understand your current process and have planned any changes to your system, we’ll set up your cloud accounting and get you registered on our recommended platforms:
- Xero is a user-friendly cloud accounting software that’s ideal for small and medium-sized businesses. Features include invoicing, bank reconciliation, payroll, financial reporting, and more. It can also integrate with other apps to help business owners run their operations more efficiently.
- Dext is a cloud-based app that can automatically extract data from receipts and invoices. It uses OCR technology to securely digitise documents, saving time and reducing manual errors. Integrated with Xero, it simplifies account reconciliation and offers features like expense tracking and reporting.
We also have experience with a variety of other cloud accounting platforms, including Quickbooks, Sage, FreeAgent, Hubdoc, Coconut. Our team will help create a bespoke accounting system using the best cloud platforms for your needs.
Contact us
Mollan & Co are cloud accountants with more than 40 years of financial experience.
Our aim is to make your accounting process as smooth as possible, ensuring compliance paperwork is completed in an accurate and timely manner – so we have more time to provide added valuable advice services.
Get in touch today to book your free, no-obligation consultation.
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