5.10.2022

Making Tax Digital

Written by Lauren Valensky

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Are you tired of trawling through your accounts every tax season? Or just looking for an easier way to manage your monetary data? 

After years of time-consuming cost conundrums and frustrating form-filling, many businesses have decided to make the switch, and go digital with tax. But where exactly do business owners access these benefits? The good news is, if you're an Epos Now customer, you're already one step ahead. Thanks to our range of accounting integrations, making tax digital can be a breeze.

So whether you're an established business looking to simplify your bookkeeping or a new entrepreneur seeking ways to streamline your accounting processes, Epos Now can help.

An introduction to doing taxes digitally

If you're ready to start making the most out of your accounting systems, Epos Now has everything your business needs. Our intuitive software offers seamless integrations with leading accounting apps from the Epos Now App Store to make managing your taxes stress-free.

In the market for an EPOS that won't be taxing? Look no further than Epos Now.

Whether it's accounting, detailed sales reports, or secure payments Epos Now's powerful POS system processes everything your business needs for optimised money management, so you can have peace of mind. 

And with the option to integrate our solution with over 100+ automating business apps, our complete point of sale solution provides an answer to all your business' monetary needs.

Find out more

 

 

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Quickbooks

With Epos Now and Quickbooks, you can automatically export and sync your sales data, saving on average 8 hours of work per month on your accounts.

Benefits for business owners:

  • QuickBooks allows you to automate paying your employees with printed checks, free direct deposit, or both for efficient management of regular shifts as well as overtime. The program also takes care of your payroll tax payments, so you can focus on the areas that matter most to your business.
  • Track your finances and see where your money’s going with more than 15 customisable payroll reports, showing total payroll costs, tax liabilities, bank transactions, and more to easily manage multiple members of hotel or restaurant staff.
  • Quickbooks stores all your data on remote servers, to ensure the highest levels of security for both your business and your customers, boosting both customer satisfaction and loyalty.

The provision of protected and detailed insights into personal accounts makes Quickbooks perfect for businesses seeking security and reliable reporting.

Get Started with Quickbooks

Sage

Sage Business Cloud places all of your accounting information into one easily accessible platform, making money management a more efficient process for both your business and your accountant. 

Ideal for businesses that want to upscale, the app integrates with your Epos Now point of sale system, to display real-time data from across your company's channels, helping you get a better picture of your business projections.

Benefits for business owners:

  • Take care of taxes, invoicing, banking, and cash flow on the go with multi-channel access across PC, Mac, iOS, and Android.
  • Save time by automatically synchronising sales, products, stock, customers and suppliers to your Sage accounting system. Sharing details directly with the Collaboration feature also cuts out cumbersome email correspondence with your accountant.
  • Bank-level security ensures your accounts are always safe, and only accessible by approved parties.

Sage makes it easy to manage your finances with all of your information in one place and provides the flexibility required for growing businesses with complex accounting needs.

Get Started with Sage

Xero

Xero automatically transfers all your financial information from your Epos Now back office so you can collate all your data in one place. Integrating effortlessly with your Epos Now system, your business can benefit from financial clarity, and efficient money management that's unmatched.

Benefits for business owners:

  • Access anywhere: since Xero is totally online, you can access your accounts on the go through, PC, Mac, or mobile.
  • Automate your processes: your bank statements are automatically imported and categorised so you can see your cash flow in real-time.
  • You can use Xero's payroll accounting software to pay your staff and file reports with HMRC, seeing your tax, wages, and pensions calculated easily and automatically, so you can spend more time focusing on your customers.
  • Accounting analytics keep track of your finances to give clear business snapshots and cash flow projections through the Xero accounting dashboard.

These benefits make Xero perfect for medium to large businesses looking for robust, yet completely cloud-based account management.

Get Started with Xero

Why integrations are integral to your business

While our AppStore integrations are particularly useful for making tax digital, their benefits extend beyond time management — integrative apps can help both retail and hospitality businesses optimise operations across the board.

Complete accuracy at all times

Xero, Quickbooks and Sage pull data from your point of sale, card machines and business bank account to give you a full financial overview at all times. Since data transfer is automatic, it completely eliminates the risk of mistakes or oversights that can sometimes happen with manual entry. 

Instant access to records

With cloud storage, you can access this information at all times and from any compatible device. For business owners, this means that you have full access to the figures that matter anytime when you need them. 

Clear computerised archives also give greater efficiency in accounting and financial management, making it easier to stay on top of your taxes and keep track of your financial data. They provide greater flexibility for managing your finances on the move too, making it easier to adapt to changing circumstances and manage valuable resources.

Saves time and resources

Bookkeeping is a vital part of any business, therefore, it takes time. As mentioned above, saves business owners an average of 8 hours per month on accounting. This allows you to spend your time on other, equally important duties that require your attention. Or, dare we say it, take some time off. 

Unlock hidden cash flow 

Undoubtedly one of the biggest benefits of integrating with a bookkeeping and accounting system is freeing up cash flow that’s been hiding in your records. As well as Quickbook’s future cash flow planner and historical cash flow view, these tools generate accurate projections - allowing you to plan your business’ growth long term. 

Integrate success into your business with a powerful POS system

Whether you work in hospitality or retail, financial management is a huge part of running a business, but it doesn’t have to be stressful and time-consuming.

Epos Now's Appstore boasts a range of 100+ automating apps, to help boost your business; Integrating effortlessly with these apps, our powerful POS systems can handle processes like bookkeeping, accounting tasks and reviewing sales, so you can spend more time focusing on other key areas of your business. Epos Now provides state-of-the-art POS systems for businesses in both the hospitality and retail sectors. 

  • Integrate with the business automation apps that are right for your business.
  • Receive, create and send invoices using simple templates and a built-in VAT calculator.
  • View detailed reports on profit margin, cash flow, and other expenses.
  • Access multi-award-winning inventory management systems that sync online sales and in-person sales for the most up-to-date stock levels
  • Automate stock purchasing so you never miss a sales opportunity.

If you're ready to make the switch and start doing your taxes digitally, we'd love to hear from you!

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