Following on from Making Tax Digital, you can now integrate your Finance Manager with one of three compliant accounting software – Xero, Sage Business Cloud and QuickBooks!
Once integrated, you can avoid re-keying data and send invoices straight to your accounting software. Just sync your Exchange account with your accounting software and your invoices and credit notes can be sent straight to it with one click.
Why have we introduced this upgrade?
Simply put, we’re making life easy for you. The accounting integrations feature saves you time and energy – because with just one click, you can manually export your invoices and credit notes from the Exchange to your HMRC-compliant accounting software.
What is Finance Manager?
Finance Manager is a bespoke digital invoices and payments management solution designed for ease and efficiency when operating on The Exchange. It was built with one thing in mind: to help save you time and energy doing finances.
What is Making Tax Digital?
Recently announced by HMRC, Making Tax Digital (MTD) means that all businesses must now have digital tax records. This means all invoices and credit notes must now be submitted, via an accredited accounting software, to HMRC.
You must be using a HMRC-compatible accounting software to submit your digital VAT tax records. According to HMRC, MTD will help businesses get tax right. There’s less margin for error, and your tax records will now be filed digitally – meaning you can access them whenever you want.
MTD means you’re no longer permitted to do your tax returns on paper records or spreadsheets. Instead, you must now file your VAT tax submissions on a HMRC-compatible accounting software.
For more information on how to integrate your accounting software to Finance Manager click here.
The article was published on . It was updated in 30 April 2024 to make it more relevant and comprehensive.
