Enhanced subscriptions have been added over time, including the Accounts Extra package, but the massive improvement is that your annual accounts can now be produced directly from within Sage One.
Companies have to produce their annual accounts in a standard format. Accounts need to be submitted to Companies House and HMRC in iXBRL format. Many accountants still transfer your financial records on to their own final accounts software. This means that you are paying extra for their time to transfer everything as well as for their software charges. An even bigger hidden cost is that many accountants don’t bother keeping your Sage One accounts up to date. This radical upgrade means it is more likely that your accounts will bear some relation to your financial statements held by Companies House.
If you are company, check your accounts with Companies House and see if they agree with the figures in Sage One or your own accounts software. Non-companies eg Sole Traders and Partnerships should still have a signed set of accounts each year to submit to HMRC. If the accounts you signed don’t agree with the figures in your accounting ledger, than your accountant probably has a bit of explaining to do!
Sage Final Accounts Online comes as standard with all the Sage One accounts packages. If your accountant doesn’t trust you with your own figures and keeps their own secret ledger, not only are they hiding information from you, they make it difficult for you to be in control of your accounts and change accountant.
Alterledger is Sage Online Accountant and can use Sage Final Accounts Online to make sure that you know how your business is doing. Please contact Alterledger for more information on streamlining your accounts.
— Sage Exchange (@Sage_Exchange) December 18, 2014
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