Skip to main content

Why Should a Plumbing and Heating Business Have an Accounting Software?

First of all, it’s a legal requirement to submit a VAT return (of you are VAT registered) and a self assessment tax return or accounts to Companies house and a Corporation Tax return if you are a company; to HMRC which may declare your income and expenditure, your assets and liabilities. The best way to get your finances in order for a plumbing and heating business so that Together We Count Limited as your accountant can then file these documents, is to use Xero for your day to day bookkeeping requirements.



Xero is the UK’s leading on-line accounting software for small businesses which can manage invoicing, bank reconciliation, and bookkeeping plus more with the add-on store.

We find at Together We Count that it’s the best software for the industry due to its ability to integrate with other software and because of its ease of use. Just one example of this is that you can get an app on your phone and invoice your customers directly from the app, on the job or even before the job.

"The list goes on as to how Xero can be integrated with other software and enhance your plumbing and heating business"

It can be accessed from any device, anytime and anywhere as it is a cloud based accounting solution, which allows you to keep your records on track when you have the time.

See Xero as a smart phone. On a smart phone you download apps to enhance usability, but the phone is the key item needed to access all of the applications that make your phone useful to you. It is your main hub for everything you need. See Xero as the hub of your business, the main piece of software used to manage your accounts, but Xero can also link to your CRM system (Customer Relationship Management) including SimPro and Service M8 . 

For more information on having a CRM system in your business, please refer to this blog.

As long as your bank is reconciled and everything is up to date on the sales invoices side of the business then if a customer has forgotten or failed to pay you, they will automatically get a reminder sent via email. This can be set up automatically, at set intervals to remind your customers that their invoice is overdue for payment.


You can enhance Xero in other ways by including Go Cardless, which means if you invoice a customer and they are registered with Go Cardless, you will automatically get paid when the invoice is due, therefore speeding up your debtors days and improving your cashflow, significantly.

The list goes on as to how Xero can be integrated with other software and enhance your plumbing and heating business, check out: 

Tradify (crm)
Gas Engineer Software (crm)  
HubSpot (CRM and lead management)
Mailchimp (email automation)
Receipt Bank (accounting tool)
Harvest (time management)
YourTradeBase (admin busting app)
Chaser (credit control)
Expensify (expenses)
Futrli (forecasting)
Deputy (employee management)
Timely (appointments)
Service M8 (crm)
SimPro (crm)

All of these apps sync together with Xero which stops the need for duplicated data entry, therefore saving you time and money. There are literally thousands of apps that integrate with Xero so like a smart phone, you can tailor it in many ways to enhance the efficiency of your plumbing and heating business, meaning you can spend more time doing the jobs that earn you money and less time in the office catching up with paperwork. 

"Xero enables business to be paperless"


What features does Xero include?

  • Accept payments
  • Asset management
  • Bank reconciliation
  • Business performance dashboard
  • Construction Industry Scheme submissions
  • Contacts and smart lists
  • Hubdoc data capture
  • Expenses
  • Inventory
  • Invoicing
  • Multi-currency accounting
  • Pay bills
  • Payroll
  • Project management
  • Purchase orders
  • Quotes
  • Reporting

The software can eliminate the need to provide your accountant (us!) with bank statements, sales invoices and receipts. Meaning you can have a paperless office. All we need to do is to log in and access your accounts data and information as required. 


Why not give us a call to discuss what we can do together?

info@togetherwecount.co.uk

www.togetherwecount.co.uk

https://g.page/Together-We-Count-Limited?gm

01273 569088
0114 400 0119
Labels:

Comments

Post a Comment

Popular posts from this blog

Newsletter 08/03/2021

Well I’m sure for many of you today is a big day as children return to school and we begin the slow transition back to normal life. If you require further explanation on any of the topics in todays newsletter then don’t hesitate to get in touch. Our contact details are at the bottom. Todays topics include: Super Deduction 130% Corporate First Year Allowance Electric Switchover – The benefits In my previous newsletter dated 01/03/2021 I shared with you some benefits of electric cars for your business. I want to revisit that as there is still more to say on the matter. The Corporate Super Deduction Allowance (SDA) - 130% What is it? It is a 130% first year allowance deduction for expenditure incurred in purchasing plant & machinery (P & M)  that would normally qualify for main rate writing down allowance of 18%. When can you claim it? You can claim it for expenditure incurred on or after 1st April 2021 up to and including 31st March 2023. When is the expenditure deemed to be ...
2 comments
Read more

Statutory Sick Pay Rebate Scheme (SSPRS)

What is the aim? To support employers facing heightened levels of sickness absence due to Covid-19. What does the SSPRS do? It will refund small and medium-sized employers Covid 19 related statutory sick pay (SSP) costs up to 2 weeks per employee. What is the eligibility criteria? Aimed at UK based employers. They employed fewer than 250 employees as of 30th November 2021. They had a PAYE payroll system as of 30th November 2021. At the time of the claim, they have already paid their employees Covid -19 related SSP. Employers can claim for Covid 19 sickness absences occurring from 21st December 2021 onwards. The 2 week limit is to be reset, so an employer will be able to claim up to 2 weeks per employee, even if they claimed for that employee under the previous SSPRS. How do you claim? Employers will be able to make the claim, through HMRC, from mid-January onwards using the website below: Claim back Statutory Sick Pay paid to your employees due to coronavirus (COVID-19) - GOV.UK (www.g...
2 comments
Read more

More Information- CJRS and SEISS

As we start another week,  I felt it was important for me to share the latest updates with you regarding the Coronavirus Job Retention Scheme and the Self-Employed Income Support Scheme. HMRC Recovery Powers HMRC have put together the draft legislative package to reclaim payments under CJRS and the Self-Employed Income Support Scheme. This is subject to a HMRC consultation which comes to an end on 12th June. Under the draft legislation, HMRC will have the power, by way of a 100% tax charge, to recover payments which were either: Not due Not used to pay wages and PAYE Not used to make pension contributions Penalties will be imposed where there has been deliberate non-compliance. This comes at the same time as HMRC have notified that, to date, they have picked up on nearly 2,000 fraudulent CJRS claims to date. This is, in part, due to ongoing calls to their Fraud hotline number 0800 788887 and also through their online whistle-blower report webpage. Big reminder – 10th June last dat...
Post a Comment
Read more