Digi-Tools In Accrual World

• 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

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? 

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

• Capsule – expands into project management functionality - FW: More project management features for you - [email protected] - 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 - [email protected] - 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

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. 

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.

This week in app news:

• Lightyear and Sage Intaact partner - https://ecommercenews.com.au/story/lightyear-and-sage-partner-for-end-to-end-offering

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.

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

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!

Bumper app news this week - join John, Ryan and Indi to hear the latest headlines.

• Adrian Blair breaks silence since leaving Dext, thanks staff and talks about success - https://www.linkedin.com/posts/adrianblair_dext-is-rated-excellent-with-47-5-on-activity-6924763917176995840-XjqK?utm_source=linkedin_share&utm_medium=ios_app

The big Glen Foster in a post Xero world. With the recent spate of entries and exits we catch up with Glen Foster to find out more about why he made the leap.

Find out more about Libeo and hear about Xero's plans for world domination in this short feature length episode. Special appearance and shout out to Jasmine from Libeo!