New App-driven solution for MTD helps accountants retain control
MyFirmsApp, operators of the largest global custom App platform in the world for accountants in practice, has announced its’ entry into the tax software arena with the launch of an end-to-end Making Tax Digital App-driven solution.
‘Collect’ allows accountants to provide their clients with an App that can be used to record all the necessary information needed for MTD. Use of the in-built camera on Smartphones and Tablets to photograph receipts and invoices gives clients a pain free method of recording business transactions and crucially, no bookkeeping knowledge is required. This is a win-win situation for the accountant as it is easy to stay connected with clients and track what they are doing via an integrated dashboard and Cloud portal where entries can be monitored and amended. ‘Collect’ is designed to know who has and has not submitted information and chase them using push notifications, which are proven to be 5 times more effective than email.
This easy to use solution will keep accountants at the forefront and enable them to be responsible in real-time for their clients’ MTD quarterly returns.
- Simple and cost effective solution to the challenge of MTD
- A go-forward product that embraces digital technology and offers a new look, new feel, new experience
- Uses camera on Smartphones and Tablets to record receipts, income and mileage
- Control is retained through review process
- Makes life easier for clients
- Rich in functionality
- Lightens training requirements
The development of a mobile MTD solution that integrates with HMRC’s new API platform embraces the move to digital technology by the business world. Over 900 billion hours are spent on mobiles and the number of UK Smartphone users is expected to reach 44.9 million this year. With ‘Collect’, accountants can view and amend the summary data clients collect in real time, retain control of when that data is submitted to HMRC and be responsible for all submissions to HMRC.
“The launch of ‘Collect’ marks the beginning of an exciting new stage in MyFirmsApp’s development with its’ entry into the tax solution market. This powerful solution to the MTD challenge has been developed by working closely with existing App users and membership associations including ICPA to ensure it meets their exacting requirements,” says Joel Oliver, CEO, MyFirmsApp.
“There is a distinct window of opportunity for accountants to seize the new digital possibilities presented by MTD and we will be looking for up to 40 firms at Accountex to help us with the final beta testing of the solution before it is rolled out in the Summer of 2017. They will, of course, benefit from an exclusive package and pricing in return for their help in the final stages of ‘Collect’ development.”