Receipt Bank: Gaining control over where your team spend their time

Are you and your team spending too much time on admin and paperwork? The average UK small business owner spends 16 hours a week on admin, 4 hours on regulatory matters and only 8 hours on actual business development. That’s far from being an efficient way to use your resources.

Running a business requires a large amount of record-keeping, administration and data entry. But do your people really need to spend so much of their week coping with keying in numbers and dealing with incoming paperwork?

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The short answer is no: with modern cloud software you can drastically cut down the time you spend on this essential admin. And the combination of Xero online accounting software and the Receipt Bank plug-in are a perfect way to save time, cut costs and reduce that paperwork.

Pensions auto enrolment: Act now to meet your staging date

There’s a pensions problem in the UK. People are living longer, greater numbers of people are becoming pensioners and there’s insufficient provision being made to take care of the UK’s ageing population in their retirement

Pensions auto enrolment is the Government’s response to this pension problem. By making it mandatory for all businesses to provide a suitable pension scheme for their employees, some of the burden will be taken off the state pension system.

But, in doing so, a new burden has been created: a burden for small business owners. It’s now your responsibility, as the director or owner of a UK business, to provide the right kind of pension scheme for your staff.

Back in March, we asked if your business was ready for auto enrolment. Eight months down the line, this question has an even greater urgency to it. If you’ve not yet chosen a scheme then you need to act now.

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And to help you see the need for prompt action, we’ve outlined the process you’ll need to go through to meet your responsibilities and get your auto enrolment pension scheme up and running.

Choose Xero: go for Netflix, not DVDs

Choosing the right platform for your business’s finance system is a big decision. Get it wrong and you could end up with accounting software that’s quickly out of date, doesn’t have sufficient support and, ultimately, ends up throwing a whole host of hurdles in your path.

But get it right and you can streamline your processes, improve your view of your business numbers and get a vastly improved sense of your business position and your underlying profitability.

That’s why Xero is the choice for the informed small business owner.