Tag Archives: digital-first

Accounts and Accountancy, News

Modulr unveils Pathfinder programme ahead of the alpha launch of its revolutionary Payments Dashboard

Modulr, the payments as a service FinTech, has today announced the Alpha Launch of its Payments Dashboard and accountancy Pathfinder programme, as it gears up to revolutionise the way accountants and bookkeepers manage and make payments for their clients.

The new Payments Dashboard powered by Modulr will deliver greater control, visibility and access to payments capabilities for accountants through accounting and payroll platform connections, multi-step approvals, granular access control and workflow management. The Payments Dashboard forms part of Modulr’s commitments to delivering better banking and payments services to SMEs, funded by the £10m they were awarded from Pool C of the Capability and Innovation Fund (CIF) under the RBS Alternative Remedies Package.

The Payments Dashboard has been built with accountants and for accountants, with a shared belief that too many accountants and bookkeepers, and in turn their SME clients, are held back by slow systems and manual processes. Modulr brings the best technology the fintech sector has to offer, via its intuitive API, as a digital alternative to traditional banking and payments software.

As part of the Alpha Launch, the launch of the Pathfinder programme has seen key thinkers and well known professionals in the accountancy space sign up to be a part of building the future of accountancy innovation. This includes Lucy Cohen, Co-founder of Mazuma Accountants, the leading online accountants for SMEs; Lisa Newton, Founder of Boogles Bookkeeping, the award winning bookkeeping service; Shane Lukas, Managing Director at AVN, leading accountancy coaching and training experts; and Stephen Paul, Chief Executive Officer at Valued, the leading technology based accountancy firm.

Lucy Cohen, Co-Founder at Mazuma accountants, says: “As someone who works with small and micro businesses, I can see how payments can be a real pain point, which is why I wanted to join Modulr’s new Pathfinder programme to help solve this issue.

“Having a dashboard that gives you greater control and visibility, will enable businesses to greatly improve their efficiencies and allow them to concentrate on the parts of the business that drive growth. And for any business, systems like this sit at the core of sustainable growth and control. Getting involved in the Pathfinder programme allows me to help be part of the solution to a universal problem.”

Tom Kelly, strategic accountancy, payroll and employment services lead at Modulr at Modulr, comments: “We see accountants as allies in our bid to drastically improve the financial technology available to SMEs and their accountants today. SMEs have been poorly served when it comes to how their accountants access and manage their financial information and complex payment workflows that keep them running as usual. The slow, manual processes – due to integrations with business banks – are lacking real-time insight and workflow sophistication to be both valuable and useful for their day-to-day needs.

“Working with accountants across the industry, and software providers too, we’re building a product that will give businesses greater control, and their accountants proper and useful insights. All with the aim of driving better business performance and improved financial forecasting.”

To join Modulr’s new programme and become an accountancy pathfinder,
you can register your interest here (practitioners only): www.modulrfinance.com/accountancy-pathfinder

News

KashFlow launches VAT dashboard, streamlining MTD and ushering in digital-first advisory

KashFlow, by IRIS Software Group, is today announcing the launch of a new VAT Dashboard, enabling accountancy firms to streamline the VAT process for their Making Tax Digital (MTD) clients. This enables accountants to utilise detailed insights and provide digital-first advisory to help grow their clients’ businesses.

The VAT dashboard enables firms to manage VAT for their MTD clients in one centralised area, streamlining the MTD process, saving time and improving overall business productivity, while enabling accountants to approach problems or opportunities in the next normal.

As part of MTD, the deadline for VAT-registered businesses to keep VAT records in digital form has been extended to April 2022, so firms are still heavily focused on supporting clients as they move into the next normal. As such, many plan to rely on traditional assurance and compliance services to meet the mandate, rather than investing in a digital-first advisory.

KashFlow’s new VAT dashboard will enable firms to both meet the MTD mandate now and offer first-class, digitally powered advisory to clients.

JF Sullivan, Chief Product Officer for IRIS Software Group says, “While no silver bullet, technology has, and will continue to play, a central role in helping accountants support businesses through these uncertain times and throughout the next normal. Accountants have done an incredible job in reacting quickly to address clients’ needs, they now have the tools needed to be proactive and act as a business’ guide as we move forward.”

Through this new dashboard, firms will be able to clearly see and separate all MTD VAT return clients from non-MTD clients (where appropriate). It will also enable partners to submit multiple VAT returns at once, or individually, automatically sending client correspondence when a VAT return has been submitted on their behalf. This significantly saves time and helps businesses and accountants manage finances efficiently – which is vital for survival.

Phil Brown, partner at Allan Brown Accountants has been using KashFlow to quickly submit accounts and is now presenting clients with regular management accounts to show how they have performed during the period. Phil explains, “Our initial focus was to ensure compliance, but we quickly realised the efficiencies KashFlow brings to our firm. This has allowed us to initiate more business value conversations with clients, highlighting performance which helps them make better longer-term decisions.”

This new functionality also brings a range of other enhancements designed to make it easier and more efficient for firms to help clients in MTD. Including the use of colour-coding to highlight different VAT return statuses and easy-to-use navigation paths from clients’ Taxes Dashboard, Return Summary Reports and Return Daily Reports within the KashFlow Connect platform.

Also enhanced as part of this launch is the sorting capability, with firms now able to sort by client name, date and/or VAT return status. A progress bar has also been added, which highlights how far along the submission process is and what elements are left to complete, along with improvements in the retaining of a search result when filters are applied and removed.