Save time and money with cloud accounting

By March 29, 2017Medical Accounting
Cloud accounting for the medical profession

Bookkeeping must surely be one of the most time consuming tasks for practice managers – but the new generation of accounting systems can help to ease the burden.

Hall Liddy, in partnership with Xero, is now offering clients access to a new cloud-based system that is one of the most advanced to date.

We believe it could reduce the time spent on internal accounting duties by up to 75% in some practices, while offering improved reporting and value.

Andy Pow of Hall Liddy says: “More than a quarter of GP practices are still using paper accounting and many others are using older-style software. With HMRC planning to ‘make tax digital’, now is the time to consider your accounting system. New technology can simplify the bookkeeping process, ensure you are compliant with the new tax system and help you save time and money.

“We will be working with Xero to develop customise reporting and aim to make it the best and most advanced system for GP practices and healthcare professionals.”

Here are some of the benefits of the new system:

Meeting the new tax deadlines – the Making Tax Digital initiative which comes into force in April 2018 will mean accounting data will have to be submitted quarterly rather than annually, making paper-based systems highly impractical.

Greater speed and efficiency – even those who are already using accounting software can benefit from faster processing speed and additional functionality.

Reduce year end hassle – instead of you having to put together all your books and files for the accountant, Hall Liddy can simply access the data online. As we can view your accounts in real time, you can also call us with queries at any point during the year.

Better management information – in the longer term, the insights that the new system will provide could help you manage your practice more effectively. We will be working with Xero to develop specific reports, such as comparing income streams and cost per patient.

More cost-effective – in addition to the time savings and convenience, many practices will find the cost of the new system is lower than their existing software.

For those who want to move to the cloud, we will also be providing hands-on support to set up the system for you. For further information call Andy Pow or Lee Simmonett on 0161 832 7571 or email andy@hallliddy.co.uk or lee@hallliddy.co.uk.

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