7F Technology Partners Ltd’s Post

🚀 Exciting News from TrustEasy for Tax Practitioners! 🚀 🔒 Stay Compliant with Ease: Subscribe now and start entering data from 1st April to ensure compliance with TPB and Accounting Body Requirements for managing client money. 💸 Effortless Fee Management: Manage fees from refunds one by one or in bulk by importing EFT reconciliation reports. 🔗 Seamless Integration: TrustEasy integrates with Xero Practice Manager and Access Practice Manager, enhancing your workflow. 👥 Comprehensive Payment Management: Handle beneficiary payments (Deceased Estate) and supplier payments, like paying GST on behalf of clients, effortlessly. 🏦 Exclusive Feature: TrustEasy is the only trust accounting software for accounting firms with automatic bank feeds inbuilt to meet monthly bank reconciliation requirements. All the reports that auditor will need are compiled at one place. ⏳ Save Time with. aba Files: Generate .aba files to streamline paying net refunds to clients, ensuring accounting firms get paid simultaneously. It also sends receipts automatically to clients showing refund amount, fees and bank details used along with receipt numbers Experience the efficiency and reliability of TrustEasy today! #TrustEasy #AccountingSoftware #XeroIntegration #Compliance #BankFeeds #TimeSaver #AccountingFirms

You can still subscribe to TrustEasy and use the software retrospectively to cover the full financial year to stay compliant with Statutory Trust Accounting Requirements for Tax Agents. #FeeFromRefund #TrustEasy

🎬 Earlier on this week, I spoke about making tax digital and what you need to know, today I want to run through what actions you actually need to take. 1️⃣ Firstly, start exploring MTD-compatible software options if you haven't already. The sooner you adapt, the smoother your transition will be. Here at Taxtful, we use Xero 2️⃣ Secondly, stay informed. The regulations have been updated, so make sure to constantly review these changes to ensure compliance. We’ll always cover any brand new changes that you need to be aware of - so make sure you’re following us to stay up to date 3️⃣ Finally, on top of ensuring all your business income and expenses are recorded and preserved digitally through this software. You must send HMRC quarterly updates of your business records using MTD-compatible software. 🔗 Any questions? Let's chat 👉 https://lnkd.in/eQk4uAY3 #MTD #Xero #compliance #taxdigital

ICYMI, Key Takeaways: Tennessee Sales and Use Tax Judgment for Customized Software Services by Amit Saxena. https://zurl.co/1GAX #taxupated . #sarusinc #taxtechnology #keytakeaways #UseTax #Salestax #taxlaw

Future-Proof Your Business - Embrace the universal tax rate API for improved scalability and focus on growth within Dynamics 365 applications. Connect effortlessly with third-party tax solutions, thanks to standardized data exchange and predefined APIs. Start leveraging this powerful feature today for a transformed tax calculation process that prioritizes compliance, efficiency, and scalability! 🚀 #Microsoft #Dynamics365 https://lnkd.in/gwGzyaEt

New #MSDyn365BC Post - A Method for posting VAT Opening Balances when going LIVE mid VAT Period This post outlines a method for posting an opening VAT position in #BusinessCentral when going live mid-VAT period, eliminating the need for bridging software

Check out new blog post on Deprecation of VAT return direct submission to UK MTD in Dynamics 365 Finance for on-premises deployments  <p>Since 2019, Dynamics 365 Finance has supported direct system-to-system integration with the web service provided by His Majesty’s Revenue and Customs (HMRC) to submit Value Added Tax (VAT) returns for UK-registered companies under the Making Tax Digital (MTD) project. </p> <p>Due to security requirements, we must modify our implementation approach and can no longer support this integration for on-premises deployments of Dynamics 365 Finance.</p> <p>The post <a href="https://lnkd.in/epGCpSwE">Deprecation of VAT return direct submission to UK MTD in Dynamics 365 Finance for on-premises deployments </a> appeared first on <a href="https://lnkd.in/eNgmbGmR">Microsoft Dynamics 365 Blog</a>.</p> #Dynamics365

🚨 ATTN Tax Pros: 2024 Tax Software Survey Insights 🚨 The Tax Adviser's recent survey reveals crucial shifts in the tax software landscape. 📊 Market shares are shifting, with user experience, mobile accessibility, and data security taking center stage. 🔒📱 As trusted advisors, we must prioritize these factors when recommending software to our clients. 🤝 Integration with financial services and robust customer support are also key considerations. 🔗📞 Stay informed and adapt to these trends to provide the best possible service. 📈👨💼👩💼 What are your thoughts on these findings? How are you navigating these changes in your practice? Let's discuss! 💬 #TaxSoftware #TaxPros #TaxPrep #TaxTrends #TaxAdvice https://lnkd.in/dfSzimHc Get the latest TaxPro news via email: https://lnkd.in/enfg4BuU Pass the EA Exams: https://lnkd.in/emDt264J

🚨 𝗠𝗶𝘀𝘀𝗲𝗱 𝘁𝗵𝗲 𝗟𝗮𝘁𝗲𝘀𝘁 𝗧𝗮𝗹𝗹𝘆 𝗣𝗿𝗶𝗺𝗲 𝟱.𝟬 𝗨𝗽𝗱𝗮𝘁𝗲? 𝗛𝗲𝗿𝗲’𝘀 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂’𝗿𝗲 𝗟𝗼𝘀𝗶𝗻𝗴 𝗢𝘂𝘁 𝗢𝗻! 🚨 🌟 𝗧𝗮𝗹𝗹𝘆 𝗣𝗿𝗶𝗺𝗲 𝟱.𝟬 – 𝗧𝗵𝗲 𝗚𝗮𝗺𝗲-𝗖𝗵𝗮𝗻𝗴𝗲𝗿 𝗳𝗼𝗿 𝗚𝗦𝗧 𝗙𝗶𝗹𝗶𝗻𝗴 𝗶𝘀 𝗛𝗲𝗿𝗲! 🌟 𝗥𝗲𝗮𝗱𝘆 𝘁𝗼 𝘁𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺 𝘆𝗼𝘂𝗿 𝗚𝗦𝗧 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲? 🚀 With Tally Prime 5.0, your tax filing is about to get a major upgrade! Packed with brand-new features, this powerful software automates the entire process, ensuring seamless and accurate GST filing. Whether you’re a small business or scaling up, Tally Prime 5.0 helps you stay ahead of deadlines and frees up your time for business growth. 💥 𝗖𝘂𝗿𝗶𝗼𝘂𝘀 𝗮𝗯𝗼𝘂𝘁 𝘄𝗵𝗮𝘁’𝘀 𝗻𝗲𝘄 𝗶𝗻 𝘃𝗲𝗿𝘀𝗶𝗼𝗻 𝟱.𝟬? 𝗗𝗼𝗻’𝘁 𝗴𝗲𝘁 𝗹𝗲𝗳𝘁 𝗯𝗲𝗵𝗶𝗻𝗱—𝗳𝗶𝗻𝗱 𝗼𝘂𝘁 𝗵𝗼𝘄 𝘁𝗵𝗶𝘀 𝘂𝗽𝗱𝗮𝘁𝗲 𝗰𝗮𝗻 𝘀𝗶𝗺𝗽𝗹𝗶𝗳𝘆 𝘆𝗼𝘂𝗿 𝘁𝗮𝘅 𝗹𝗶𝗳𝗲 𝗹𝗶𝗸𝗲 𝗻𝗲𝘃𝗲𝗿 𝗯𝗲𝗳𝗼𝗿𝗲! 🔔 𝗛𝘂𝗿𝗿𝘆—𝘂𝗻𝗹𝗼𝗰𝗸 𝘁𝗵𝗲𝘀𝗲 𝗲𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗳𝗲𝗮𝘁𝘂𝗿𝗲𝘀 𝗻𝗼𝘄 𝗮𝗻𝗱 𝘀𝘁𝗮𝘆 𝗮𝗵𝗲𝗮𝗱 𝗼𝗳 𝘁𝗵𝗲 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝗼𝗻! 🔥 📊 𝗥𝗲𝗮𝗱𝘆 𝘁𝗼 𝗹𝗲𝗮𝗿𝗻 𝗺𝗼𝗿𝗲? 𝗖𝗹𝗶𝗰𝗸 𝗵𝗲𝗿𝗲:  https://lnkd.in/dxwjFTwv #TallyPrime5 #GSTFiling #BusinessAutomation #NewFeatures #TaxCompliance #UpgradeNow #AccountingSoftware #BusinessGrowth #FOMO #BusinessOwners #NovaTechnosys #ERPSoftware #SMBSuccess #SmallBusinessSupport

How to ensure your invoices are accurate and legally compliant? 👋 When it comes to invoicing, understanding and complying with local tax regulations is not just important—it's essential for the smooth operation of your business. Here are some key points to consider that will help ensure your invoices are accurate and legally compliant: Know Your Taxes. Different regions have different tax requirements, including sales tax, VAT, GST, and others. To stay compliant, it’s crucial to familiarize yourself with the specific tax laws applicable in your jurisdiction. Use resources such as local government websites, and tax authorities, or consult legal experts to get the most accurate and up-to-date information. Include All Mandatory Information. Depending on where your business operates, you are required to include certain information on every invoice: - Business name and contact details. Taxpayer identification number (such as EIN in the U.S. or VAT number in Europe). - Client's name and address. - Detailed description of goods or services provided. - Date of the invoice and the supply of goods or services. - Unique invoice number. - The total amount charged and the tax rate applied. - Payment terms and due date. Use Accurate Tax Rates. It’s important to apply the correct tax rates as specified by your local tax authority. Remember, tax rates can differ based on the type of product, service, and location. Keep Records Organised. Maintain comprehensive records of all transactions, invoices, and tax payments. Well-organised records are invaluable for managing audits and inquiries from tax authorities effectively. Automate Where Possible. Leveraging technology such as accounting or invoicing software can greatly reduce the risk of human error. These tools can automatically apply the correct tax rates based on the details of your business and your clients. Stay Informed on Regular Updates. Tax laws are subject to change. Keeping abreast of any updates or changes in tax regulations that affect your business is crucial. Seek Professional Advice. For complex situations or when in doubt, consulting with a tax professional or accountant who understands local tax laws can prevent costly mistakes. Ensure Transparent Communication. Make sure that your invoices clearly display all tax information in a manner that is easy for your clients to understand. This transparency helps avoid disputes and delays in payment. Keep these tips in mind to manage your invoices effectively and maintain good standing with tax authorities. And if you need an invoicing system to help you, check us out: https://lnkd.in/dCr5yY7p #invoicing #finances #invoice