Digi-Tools In Accrual World

Episode 29 - Final App News Of S1

• MyWorkpapers improves Excel integration with Excel Connect 
• HMRC to tender £4.5bn contract for software services to remove legacy tech
• Digital promissory notes first from Lloyds (modernising 4000 year old transactions!) 
• Comma updates – hiding payroll payments from users who didn’t set them up, SVB notice of how long it will take to validate payments, Bankline reminder to login to confirm payments
• Crezco launch an integration with WooCommerce so you can take payments. Just need to download a plugin. Also announced a new Pay feature, FoC for now, with a premium feature expected at the end of September which will feature the ability to create pay runs and bulk pay
• Fathom acquired by The Access Group
• Capium raise £3m
• Pleo – can now pay invoices on behalf of clients (enabled by client admin)
• Xerocon US announcements regarding use of Locate Inventory tech launching into Xero product
• Know-IT launch - £49.99pm - Xero, QBO, Sage, Freeagent
• Capital on Tap, a UK small business credit card and expense management platform, received a £200 million funding facility from JP Morgan and Triple Point

Episode 28 - The day after the night before

OK so not quite the day after, in keeping with holidays, this episode is a pick 'n' mix for those who have managed to get through all the kids films in the cinema this summer.

This is our Back To School medley where John, Ryan and Indi interview Alex Von Schirmeister, EMEA MD of Xero, to talk about the release of XeroGo and Xero Instant Pay - as well as the plan for European expansion. 

Followed by a quick update from Johann Goree, our QuickBooks Expert, to get the inside view on QuickBooks Online Advanced. Is it the same as the US version? Seems like a cheaper price than the US - what's the catch?

And finally John and Ryan are joined by the charismatic and charming Amy Cotton to evaluate the feedback post Xerocon. Are the releases appealing enough? Was Xerocon worth the visit in the heatwave? Why are teacups not fixed to the saucers?!

Find out all in this episode.

Episode 27 - Summer App & Industry News

• Accountants with largest LinkedIn followers, dominated by females. Jeri Williams 65K, Francesca Tricarico 56k, Laura Taylor 42K - courtesy of Dermot Hamblin (ACCT For Your Future)- (1) LinkedIn Follower Accounts in UK Accountancy | LinkedIn
• Most popular SaaS by country (from Cledara) – Xero for the UK
• Companies House IT transformation – register of overseas entities gone live – to come new ID verification, digital process to challenge to info uploaded, - Our new powers: a milestone year at Companies House - Companies House (blog.gov.uk) 
• HelptoGrow expanded – from 5 employees to one (not director), Added ecommerce - Digital scheme widens but many firms still frozen out | AccountingWEB
• HMRC update access controls for agents, DD mandates for clients in their login - HMRC to update direct debit and access controls | AccountingWEB
• Yapily and Soldo open banking partnership – ability to top up Soldo direct from their own bank using Yapily – Soldo open banking partnership | Yapily
• Sage and Microsoft expand partnership to embed Office into Sage products – Sage and Microsoft expand partnership to simplify workflows – ERP Today
• GoCardless and Plaid launch VRP for GoCardless InstantPay - GoCardless and Plaid launch VRP offering ahead of CMA sweeping deadline (finextra.com)
• FloQast – Accounting workflow automation tool – deeper partnership with Microsoft enabling their products to be listed for selling - FloQast, Microsoft Collaborating on Workflow Integration - insightfulaccountant.com (intuitiveaccountant.com)
• QuickBooksOnline advanced – soft launch - £70pm – unlimited users through accountants
• Xero updates – XeroGo, Instantpay, Document packs across HQ and Xero tax, improved job manager XPM, unified client record across XPM, HQ and Tax - What’s next for Xero’s practice tools in the UK | AccountingWEB
• Xero updates - Old reports dead by July 23, quotes and purchase order reporting, overhaul of Contacts, bulk merge contacts is back, edit fields in invoice once paid (new invoicing), invoice reminders for new invoicing, global search updating, attach files to inventory items, create bill on invoice for VAT at end of return, Latest product news — August 2022 | Xero Blog
• Xero updates - improved Xero status page – easier navigation and localisation - Introducing an improved Xero status page experience - Xero Blog
• Xero updates – start and end times in Xero me app (for timesheets) Introducing start and end times in Xero Me | Xero Blog
• Flinder data analytics and reporting platform LIVE! Initially for end consumer but potentially for accountants to use. Works with Xero, QBO, Shopify, Unleashed, Pipedrive, Hubspot, Stripe, Simpro, Chargebee, Salesforce and others - FW: flinder press release: 10 August 2022 - digitoolsinaccrualworld@gmail.com - Gmail (google.com)
• Sage Intaact – property specific releases focus in that industry – simple subscription billing management, as well as a Real Estate module - Cloud-based Accounting Solution Hits Real Estate Industry - insightfulaccountant.com (intuitiveaccountant.com)
• FreeAgent – multi-category bills now LIVE! - Multi-category bills are now live - FreeAgent
• Netsuite streamlines inventory management with Smart Count – easier stock counts whilst stock is moving - NetSuite Streamlines Inventory Management with Smart Count - insightfulaccountant.com (intuitiveaccountant.com)
• CitrusHR PensionSync partnership – expanding on their payroll offering - citrus HR announce PensionSync partnership | AccountingWEB
• Revolut adds stripe to platform for Europe payments - XU Magazine 2020
• Keypay integrates with Staffd, paperless application onboarding and e-learning platform - Streamline hiring processes by integrating with Staffd! - XU Hub (xumagazine.com)
• Comma – Bulk payments for Lloyds and Barclays corporate LIVE!
• Crezco – International payments LIVE! - Crezco - New feature alert! - digitoolsinaccrualworld@gmail.com - Gmail (google.com)

Episode 26 - Under the hood of Xero with Steve Vamos

In line with Xerocon 2022 - the first Xerocon in the UK for 3 years (!) - we sit down with Steve Vamos, CEO of Xero, to talk about what is really driving the Xero product. Is it software, people, culture or customer need? 

As with all our pods you can trust we asked some prudent questions and get to know more about the new world Xero mindset. Big thanks to Steve and the whole Xero team for their support in making this happen. If you're missing out on Xerocon then here's 50 minutes you won't want to miss.

 

Combined with app news for a bumper update on industry happenings. Featuring: 

• The global talent shortage for accountants – Accounting firms must “discover, create and train” talent amid global shortage (accountancyage.com)

 

• Sage and ACCA - announce release of e-learning on accounting software and cloud accounting tools – hitting more than 30,000 students - Post | LinkedIn

 

• Accountants voted best kissers in Britain – poll of 2.000 Brits by Plenty of Fish – Accountants are voted the best kissers in Britain ahead of doctors and nurses | Daily Mail Online

 

• E-invoicing in France to become mandatory from July 2024 - https://www.avalara.com/eu/en/learn/events/webinars/e-invoicing-and-e-reporting-in-france.html?campaignid=7015a000001iyxoAAA&campaignname=EMEA%20MKT202201%20E-invoicing%20in%20France%20webinar%20-%20Internal%20Email

 

• MTD ITSA – Three line (technically two (income and expenses) submissions allowed for ITSA below VAT threshold - MTD ITSA legislation: HMRC green-lights three-line accounts | AccountingWEB

 

• MTD for VAT penalty systems – from 1st June 2022 - £400 for not filing through software - £5-£15 per day for not keeping digital records – comment on digital links. Up to £5,475 annual penalty for digital link breach – 100% for not using checking systems - The lowdown on HMRC’s penalty system for MTD for VAT - FreeAgent

 

• Changes in mid-tier ERPs. Dynamics biggest grower in mid to large at (5 to 7% market share), Oracle (2 to 4%), SAP up 1% and AccountsIQ up 1%. Sage gained 2% in small business space. Sage biggest growth in mid tier space at 6% - Finance system upgrades take off in the mid-market | AccountingWEB

 

• Xerocon partners – Major names, with focus on payment solutions. Comma as newcomer - Introducing our Xerocon London event partners | Xero Blog

 

• Xero release – bank statement extraction through Hubdoc US and Canada (no uk?) - Coming soon: Making it easy to import transaction data into Xero | Xero Blog Hubdoc auto add contacts, update planned payment dates in bulk in xero analytics - Latest product news — July 2022 | Xero Blog link of contacts between HQ and XPM The next step in our journey towards a unified client record | Xero Blog

 

• Sage – terminating accounts below v26.2 from Sep 22 

 

• Coconut supports CIS reporting on income – adjust per transaction (rather than rule) - Coconut now supports subcontractors on the Construction Industry Scheme | AccountingWEB

 

• Syft updates – excel connector, updates to dashboards with prior period data, audit tracking for anomalies, dormant accounts tidy, sales product tracking 

 

• Timworks release mobile app for chat style communication with clients, including document exchange - https://www.loom.com/share/7c466aad9efb479da34305f4fcdcf270

 

• Paycaptain integration with Pensionsync – payroll and financial wellness solution founded 2020 – budgeting tool for individuasl linked to the payroll portal - PayCaptain launches PensionSync integration | AccountingWEB
• Skore – release of project spinnaker which is a full refresh of their system – Driving ROI on system changes – Scrutton Bland - How Scrutton Bland deliver incredible ROI and Benefits to clients | AccountingWEB

 

• Capsule – expands into project management functionality - FW: More project management features for you - digitoolsinaccrualworld@gmail.com - Gmail (google.com)

 

• IRIS Elements releases 6 new connections - Proposals, AML, Accounts production, Tax, Practice management and financial performance review- Post | LinkedIn

 

• Quotien releases scheduled emails for quotes - Fwd: Introducing Schedule Email - digitoolsinaccrualworld@gmail.com - Gmail (google.com)

 

• Hammock raises $5.5m - Hammock raise ratchets up MTD landlord competition | AccountingWEB

 

• Accounting Excellence finalists – well done to the line up of great people. Shout out to Emily Deakin, Rachel Martin, Samantha Mitcham, Pink Pig financials (Cheryl Sharp), Accounts and Legal (Stuart Hurst), de Jong Phillips (pamela phillips), Ad Valorem (Nigel Adams), Alex Falcon, and all the team at Capitalise, Clarity, Fathom, Join, Reducer, Airpa, Dext, Crezco, Iplicit, Sage, Konsolidator and Karbon. Interesting range of apps - 2022 Accounting Excellence finalists revealed | AccountingWEB

Episode 25 - LIVE at DAS covering Restaurant & Hospitality Tech

Missed our session at DAS or just missing DAS generally? Don't worry we have you covered with this short 20 minute recording from the show!

Do you have clients in the restaurant and hospitality sectors? Want to learn what apps and tech other accountants are using to serve them best?

In this live podcast taping, John Toon (Beethers & Struthers), Ryan Pearcy (Scrutton Bland), and Indi Tatla (AREX Markets) share the best apps and tech-stack for serving these clients. 

Episode 24 - The MazApp with Lucy Cohen

How many accountants does it take to build the perfect accounting software? In this case, just one.

In this episode we catch up with Lucy Cohen from Mazuma to cover all things MazApp, accounting tech and neobanks. If you're curious about MazApp and how it fits into the future of the accountant workflow theb give this a whizz.

Episode 23 - App News

This week in app news:

• Lightyear and Sage Intaact partner - https://ecommercenews.com.au/story/lightyear-and-sage-partner-for-end-to-end-offering
• Aquilla partner with Plaid for open banking - https://www.accountingweb.co.uk/community/industry-insights/aqilla-announces-open-banking-integration-with-plaid
• New UK accounting system entrant - https://www.accountingweb.co.uk/tech/accounting-software/accounting-platforms-gear-up-for-battle-of-the-five-armies
• Mastercard debuts pay by link - https://www.pymnts.com/news/payment-methods/2022/mastercard-debuts-open-banking-feature-pay-by-link/
• Iris Pay released - https://www.accountingweb.co.uk/community/industry-insights/introducing-iris-pay-the-quick-simple-and-secure-way-to-collect-payments
• Cashplus bank launches digital health tool - https://bit.ly/3xu9gSI
• HMRC expand MTD ITSA pilot - https://www.accountingweb.co.uk/tech/accounting-software/hmrc-takes-the-handbrake-off-mtd-itsa-pilot
• Vaulta reporting for Freeagent - https://www.accountingweb.co.uk/tech/accounting-software/vaulta-app-targets-advisory-without-the-overkill
• Lightyear updates – Auto-publishing, Deeper integration with xero, bulk actions etc - Feature Release June 2022 (lightyear.cloud)
• Bokio release bank rules - https://www.accountingweb.co.uk/community/industry-insights/new-bokio-feature-save-time-with-bank-rules
• Insightly expand their API connections to partners, improvements to segmentation and filtering, enhanced quoting system, Product updates to Insightly AppConnect, Service, Marketing, and CRM
• Comma connects with silicon bank - https://www.finextra.com/pressarticle/92873
• Swoop lands £5.4m investment for international expansion - Fintech Swoop lands £5.4 million funding for international expansion (ffnews.com)
• Access group raise £9.2bn - http://ow.ly/YWG650Jsag3
• Codat raise $100m series C - https://bit.ly/3xtVjWg
• Request finance raises $5.5m seed - https://www.linkedin.com/posts/request-finance_request-finance-raises-55m-seed-round-activity-6940583153455493120-lsIi?utm_source=linkedin_share&utm_medium=android_app

Episode 22 - All Aussie Accounting with Andrew Van Der Beek

Andrew Van Der Beek, Founder of Aussie Accounting Firm Illumin8, graces us with his presence to share his journey from accounting upstart to global accounting all star. Andrew has just completed his UK tour sharing his learnings from the last 10 years, the inside rumblings from Xero and the optimum app tech stack.

Tune in! 40 minutes and not one to miss.

Episode 21 - App News

In this week's app news bumper, find out more about...

• Futrli bought by Sage - https://www.linkedin.com/posts/futrli_today-marks-a-monumental-day-in-futrlis-activity-6930548428712067072-fojv?utm_source=linkedin_share&utm_medium=android_app
• Accountex insights
• IRIS elements released - https://www-accountingweb-co-uk.cdn.ampproject.org/c/s/www.accountingweb.co.uk/tech/practice-software/iris-elements-marks-final-push-into-the-cloud?amp
• BTC adds to cloud solution with self assessment - https://www.accountingweb.co.uk/tech/accounting-software/btcsoftware-boots-up-cloud-tax-solution
• Swoop opens accountant portal - https://www.accountingweb.co.uk/tech/accounting-software/exhibition-round-up-swoop-opens-accountant-portal
• Xero 2022 financial results blog - https://www.xero.com/blog/2022/05/full-year-2022-financial-results/
• Intuit 3rd quarter financials - https://investors.intuit.com/news/news-details/2022/Intuit-Reports-Third-Quarter-Results-and-Raises-Full-Year-Revenue-and-Operating-Income-Guidance/default.aspx
• Square launches omnichannel commerce tools - https://www.pymnts.com/api/2022/square-launches-new-omnichannel-commerce-tools-cash-app-pay/
• GoCardless announce first VRP customer - https://gocardless.com/blog/gocardless-announces-first-variable-recurring-payment-customer/
• ICoconut lauches UK accountant advisory board to solver ITSA challenges - https://www.accountingweb.co.uk/community/industry-insights/coconut-enlists-top-uk-accountants-to-help-solve-itsa-challenges
• Tide and Sage tie-up to offer SMB tax and accounting tool - https://www.accountingweb.co.uk/tech/accounting-software/tide-and-sage-tie-up-to-offer-smb-tax-and-accounting-tool
• Ability to file CSO1s through Accoutnacy Manager - https://www.accountingweb.co.uk/community/industry-insights/new-file-cs01s-through-accountancymanager
• Fathom integrates to googlesheets for non-financial data - https://blog.fathomhq.com/google-sheets-integration?utm_source=App+Advisory+Plus+-+Newsletter+%26+Webinars&utm_campaign=5d9bf96f9a-EMAIL_CAMPAIGN_2020_01_24_10_01_COPY_01&utm_medium=email&utm_term=0_16d43ed120-5d9bf96f9a-376197989&mc_cid=5d9bf96f9a&mc_eid=a80ecca862
• Deputy launches employee onboarding - https://help.deputy.com/en/articles/6137537-how-to-onboard-team-members-uk-customers
• Crezco launches partner program 
• Xero update quotes with attachments - https://www.xero.com/blog/2022/05/win-business-with-beautiful-quotes/
• Xero stripe app launch - https://www.xero.com/blog/2022/05/introducing-xero-stripe-app/
•  Auderli targets MTD with “life audit” tool - https://www.accountingweb.co.uk/tech/tech-pulse/auderli-targets-mtd-opportunity-with-life-audit-tool
• MTD ITSA Pilot via Freeagent - https://www.freeagent.com/blog/mtd-itsa-pilot-programme/
• Freshboosk Appstore launch with 100 products - https://www.freshbooks.com/blog/appstore
• Digital grant failing - https://www.accountingweb.co.uk/tech/accounting-software/digital-grant-scheme-well-intentioned-but-poorly-targeted-experts-tell-mps
• Circit raise €6.5m to pioneer open banking for auditors - https://www.circit.io/post/circit-raises-6-5-million
• Atom Bank (UK fintech) may list on NYC via a SPAC merger - https://www.uktech.news/fintech/atom-bank-new-york-20220523
• Fresho raises $14m to re-enter US - https://www.smartcompany.com.au/industries/hospitality/online-ordering-platform-fresho-us-covid/
• Token.io raises $40m – account to account payments in Europe on open banking - https://techcrunch.com/2022/05/12/token-io-raises-40m-to-expand-open-banking-based-account-to-account-payments-in-europe/
• Modulr secures $108m series C - https://www.openbankingexpo.com/news/modulr-secures-108m-in-series-c-fundraise/
• Access Group purchase Reckon Accountants Division for $100m - https://www.linkedin.com/posts/mattpaff_its-finally-done-clive-found-his-mark-activity-6932822139829911552-WTDI/?utm_source=linkedin_share&utm_medium=ios_app
• Nomisma is crowdfunding - https://www.accountingweb.co.uk/community/industry-insights/nomisma-is-crowdfunding

Episode 20 - Libeo Feature Episode

Learn more about the fascinating and fast paced payment space in this feature length episode with Libeo. We put the super spotlight on Libeo and discover more about what a frictionless payment experience means for Libeo, the Accountant and for businesses.

From our time with Pierre, Co-Founder of Libeo, and Glen, MD UK & Northern Europe, we explore what differentiates them in this space and the pain points they've worked hard to remove. Libeo have raised €20m to scale up their model and introduce the benefits of wallet payments and open banking to businesses across Europe. 

And as always we love a little speculation - consolidations and acquisitions. 

Share your feedback or your predictions!