I am definitely not getting the most out of Quickfile. Currently, I use it to create and send one-off and recurring invoices. I also run a spreadsheet that I maintain adding my incoming and outgoing to, which my accountant uses to build up my accounts each year.
I run a one person limited company on flat rate VAT. My accountant sends me my payslips each month and prepares my end of year accounts. I have to work out my VAT and submit those each quarter and also complete my self assessment. Each quarter I have another spreadsheet that I populate for VAT so I know how much I have taken and how much I need to pay. At the same time, I mark invoices that are paid in quickfile, so an invoice can appear to be outstanding for up to three months before I update it.
I bank with Barclays Business Bank.
Each quarter it takes me several hours to go through my incomings and outgoings, updating my various spreadsheets and submitting the results.
My accountants have also just increased their prices again.
Which leads me in to thinking about making more out of Quickfile.
Can it simplify what I am doing and reduce my dependancy on my accountant? I guess I’m looking to see whether I can;
- hook up to Barclays so it knows that an invoice has been paid
- work out my quarterly vat and submit this
- work out my end of year accounts and submit this
- generate my payslips each month
- handle any dividends I take out
Many thanks for any info.