Meet our Finance Manager upgrade: accounting software integrations
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.
If you’re a VAT-registered business, the word ‘tax’ might have a bit of a negative connotation, but if you’re a member of Courier Exchange, the platform’s very handy (not to mention user-friendly) ‘Accounting’ feature goes a long way to helping you stay in control.
How? Well, in addition to being able to fully integrate with the most popular accounting programmes, like Sage, Quickbooks and Xero, HMRC has now approved our freight exchange software as MTD (Making Tax Digital) compliant. Your life just got a whole lot easier…
Making Tax Digital
While the aim of the Government’s MTD initiative is written all over the tin, for some of us it might seem easier said than done. But it’s actually designed to make keeping on top of all your VAT issues easy and to ensure you don’t fall foul of compliancy. The buzz words HMRC uses include ‘effective’ and ‘efficient’, and through the MTD initiative, they’re committed to making fundamental changes to the way tax administration works.
In a nutshell? As the name suggests, the Government now requires any operator/business whose turnover exceeds the VAT threshold to maintain records and submit returns digitally.
CX Has Your Back
That’s all very well of course, but it’s got to work at a grassroots level for it to work for us, right? As the UK’s fastest-growing freight exchange, CX is committed to working with our members to ensure you can grow your businesses as effectively and efficiently as possible (we can use those big words too, HMRC!), without any unwanted stress.
A huge number of our members have taken up use of the CX accounting software feature and, because it’s completely compliant (with MTD), we’re now fully approved by HMRC. And proud of it.
So now, not only can you use it to manage invoices and PODs with the touch of a button on your smartphone, it’s now going to make your VAT returns an absolute breeze. So, if you’re not a member of CX, there’s never been a better time, because who doesn’t want an easier life?
Membership to Courier Exchange not only gives you access to real-time available loads and a virtual fleet of drivers for sub-contracting work, but you also get full use of our innovative accounting software system and many other valuable features. Take your business to the next level with the UK’s fastest-growing freight exchange.
