A Finchley-based accountancy firm has achieved the highest level of accreditation by leading cloud accounting software provider, Xero, just a year before cloud accounting becomes a vital tool for many businesses in complying with new reporting requirements.
Richard Anthony Chartered Accountants has been named as a Xero Platinum Partner, based on the substantial number of clients the firm supports on the platform and its expertise in the software.
Xero allows business owners and managers to keep track of their financial positions in real-time and from any location using a smart device or computer. The team at Richard Anthony are able to access this information simultaneously to provide up-to-the-minute advice and guidance.
Michael Barnett, a Partner at Richard Anthony, said: “The profession has to grasp the opportunities afforded by cloud based solutions and Xero’s offering sets a high standard in this regard . Our clients have added confidence knowing we have access to their current systems”. With the increasing availability of sector based bolt-on applications, we can offer our clients specific industry guidance and experience in real time.
“This is set to increase over the coming years with the introduction of Making Tax Digital for VAT in April 2019, which will see VAT-registered businesses required to make quarterly digital reports to HM Revenue & Customs using software packages such as Xero.
“Making Tax Digital is widely expected to be extended to other taxes over the course of the 2020s.
“Our Platinum Partner accreditation underscores our experience in supporting clients using Xero and signals our ability to help clients prepare for quarterly digital reporting under Making Tax Digital.”
The firm recommends VAT-registered businesses that currently do not have plans in place to comply with Making Tax Digital for VAT to contact them to learn more about Xero and how it can assist them in meeting their compliance requirements”.