Effective 1 August Contractor-Wizard is being rebranded as Accounts-Wizard.
This change is to keep track of the changing nature of our clients and the current market place. This will not affect our current clients in any way. The only thing changing is our branding as it will appear on invoices etc.
We will be using accounts-wizard.com email addresses but the contractor-wizard ones will also continue to work.
Many of you will know that Contractor-Wizard dealt with a lot of contractors and various changes by HMRC, including the changes to public sector payroll, have reduced that element of the client base. On the other side the changes by HMRC in respect of Making Tax Digital (MTD) have led to a growth in other areas.
MTD becomes effective on 1 April 2019 with the majority of VAT registered businesses then being required to file VAT returns directly from accounting software. Only 12% of VAT returns were submitted in that way last year with many recording their transactions on spreadsheets and filing via the HMRC website. Those caught by these changes are now seeking cost-effective solutions to the problem and hence the change.
Many of you will have already seen that we now have much closer ties to QuickBooks and we are making much more use of their online system than we had done previously. The main reason for this is to get direct feeds into bank accounts. QuickBooks then allows us to set certain rules in order to simplify bookkeeping where possible.
If you have not already changed to QuickBooks then please contact us to ask how this may assist you.
QuickBooks may not be the best solution for everybody, we are currently producing accounts from approximately 20 different types of software, and the advantages will depend on your own requirements.