Release note 9.12.1 is here! Check out our new content and features.

Happy New Year from everyone here at My Digital Accounts
May all your troubles last as long as your New Year Resolutions.

My Digital Accounts has a new look and feel.

Check out our new Practice Dashboard, this is your new landing screen when you log on to the software. We will be adding lots more Widgets for your most important KPI’s such as VAT Returns due this month, Number of Payrolls run this week and Number of Accounts due this month. So make sure to keep an eye out for upcoming feature additions!!

New. Sleek. Quick.
We have developed a brand new collapsible menu, enabling you to take advantage of a full screen mode, perfect for when you’re working with a small screen. Our new tab function makes it fast and easy to switch between screens.
Our new Task Calendar is amazing! It will help you organise your work day…everyday.
We have also added notifications to alert you when background tasks have been completed.

Financial
You can now produce company Management accounts from within the software – it produces the P&L for the current month, year to date month by month breakdowns and the balance sheet. If your month doesn’t start on the 1st however this isn’t a problem, you can set this to start on any day you want! We’ve also added boxes to add notes to the management accounts before downloading them as a PDF. Don’t tell your boss how easy it is to manage you accounts…spend your time swiping right instead.

Bulk bank adjustments are now even better, the software will now automatically predict transactions to match sales.

Payroll
We’ve added a ‘Stop Payroll’ function which is applied at contractor level. This means that the contractor will not appear in the bulk payroll process so they do not need to be filtered out, reducing the risk of mistakes being made.

Manual Timesheets can now be saved as drafts and then can be edited multiple times before finalising.

We have introduced Hybrid Models which allows for the payment of self employed individuals who want to pay their tax throughout the year rather than at the year-end.

We have redesigned our Invoice and Search function to include contract names, assignment numbers and payroll status’. This allows you to see if payments are processed, pending or ‘not applicable’. We have also included a new search function which can be used to search all the fields.

News
We are now proud to announce we are a business partner with the FCSA, in case you missed this it was published to the FCSA website on the 19th December 2017, you can read the full article here:
http://www.fcsa.org.uk/fcsa-welcomes-digital-accounts-new-business-partner/

 

Here’s some of our favourite features you may have forgotten:
Operational Margin as fixed amounts or percentages
Quick preview of notes
SDC and IR35 assessments

After almost a year long hiatus from the blog we’re back!!

…and our first piece of exciting news is we have a brand new update (just in time for Halloween) to share with you…

 

  How do spiders communicate?

 Through the World Wide Web!  

Financial

  • The Banking Screen can now handle bulk allocating of transactions. Handy if you have lots of the same expenses each week!  (Bulk allocation of invoices and reimbursements etc. are coming soon!)
  • You can now search the bank transactions by date, description or amount.
  • In the General ledger you can now see a full description of the transaction, bank references, invoice numbers etc. and all the details pull through to the excel download report.
  • We have added the ability to allocate reciepts to all available accounting codes directly from the bank (including Directors Loan Accounts!).

 

 

Why are ghosts such terrible liars?

Because you can see right through them!!!

Payroll

  • Under payroll settings there is now the ability to show income statement elements for contractor as employee and ability to select/deselect the various elements of the pay depending on what you want to show on the payslip
  • Timesheet history/upload now have a quick view for invoice number and amounts and reimbursement number and amount.
  • New report which shows the reason for the exception when trying to run payroll
  • Ability to re-run payroll prior to verify stage to be able to amend any issues which arose in the initial run.
  • Assignments are now automatically closed at the same date that the contractor is made a leaver.

 

 

Why don’t angry witches ride their brooms?

They’re afraid of flying off the handle!!!

CRM

  • When organising your Businesses you will now only see the most recently worked on businesses. If you want to see a full list you can now quickly click on the Load all Businesses button.
  • When performing a searching in the Businesses section it will now bring the whole business structure through including the Branches and Business Contacts.
  • In the Add People screen fewer fields are mandatory for you to be able to save the record. The system will however prevent you from creating their record without all the necessary information in the payroll screen so your payroll team don’t get half the information passed through!
  • Notes are now colour coded by their due date, Red for overdue, Green for today and Black for future tasks.

 

Were all constantly adding new features to our system and would love to hear what new features are most important to you.

Please leave a comment in the box below thanks

Team MDA

The Business Show 2016

My Digital Accounts at the Business Show 2016

The Business Show Olympia http://www.greatbritishbusinessshow.co.uk/ was held on the 17-18 November 2016; this was the first time that My Digital Accounts attended.  With over 25k visitors we were kept very busy!

It was really great to meet lots of new and established business, along with the professionals who support them.  There was a huge amount of interest in our stand (which looked great btw – thanks Alicia & Harry!) and of course our LED name badges started lots of conversations!  Even more than this, I was really encouraged by the interest and great feedback we received from those of you who took the time to watch a demo of My Digital Accounts- including the new Umbrella Payroll functionality we’ll be launching in the New Year.

img_0031

 

I was personally honoured to be invited to speak at the Cash Flow theatre where I talked about Managing Cash Flow for Freelancers and Contractors.  The theatre was full with small business owners eager to learn practical tips for their businesses.  It was great to see the audience so engaged on a Friday afternoon; some really interesting conversations were started there.

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Image Credit: Megumi Waters

 

Now we’re back at the office and the real hard work begins: contacting everyone who asked for more information and using your feedback to make My Digital Accounts even stronger.

 

 

 

Introducing The My Digital Accounts Knowledge Base

Meet the My Digital Accounts Knowledge Base, the new way we’re helping our clients achieve accounting bliss!

Why?

We’ve launched the My Digital Accounts Knowledge base in order to increase our efficiency. More importantly, it allows customers to find the answers to simple questions and to share experience/learning among our team.

What?

Taf, our latest addition to the team, has done some great work to help setup the My Digital Accounts Knowledge Base and create its first article regarding simple troubleshooting steps for failed FPS submissions – thanks Taf!

How?

From our support page (https://mydigitalaccounts.atlassian.net/servicedesk/customer/portal/2) enter the topic you’d like to know more about in the dialogue box.  The My Digital Accounts Knowledge Base searches for articles in a similar way to a google search.  We can also add labels to help highlight key topics.

My Digital Accounts Support feature

The My Digital Accounts Knowledge Base can also be accessed from our Service Desk software, to help My Digital Accounts staff when answering customer calls.  Where a My Digital Accounts Knowledge Base article will resolve a service desk call, it can be linked to the ticket saving the support desk team time.

My Digital Accounts Knowledge Base screenshot

When?

My Digital Accounts Knowledge Base is live now! Try it here by signing in: https://mydigitalaccounts.atlassian.net/servicedesk

6 Months of My Digital Accounts!

After officially launching in March earlier this year, My Digital Accounts has endured a great first 6 months. You can see exactly what we’ve conquered and what’s to come in the coming months on our public road map located here: https://goo.gl/VoTn81.

To mark our 6 month anniversary, here’s a brief explanation of My Digital Account’s aims and aspirations:

My Digital Accounts is a software package specifically designed for the temporary labour market and Personal Service Companies (PSCs) or Micro entities.

Having operated in the market as accountants for many years, we were aware that normal accounting software packages do not cater for this market in any meaningful way with much of the accounting work being completed off-line (e.g. deemed payment calculations). We therefore decided to set up a specialist software design project and My Digital Accounts is the result! The software was launched in March 2016 and is specifically designed for accountants servicing the contractor and temporary labour market.

My Digital Accounts (MDA’s) Strategy can be summarised as follows:

  1. To embrace the government’s, and more specifically, HMRC’s digital accounts initiative
  2. Use bank transactions to automatically pre-populate accounting records
  3. Utilise cash accounting methods to reduce complexity
  4. Develop ‘Smart Software’ which intuitively “learns” the accounts to which transactions belong, reducing manual intervention
  5. Provide customers with ‘Real-Time’ (updated at midnight each day) showing what they can draw from their business bank account
  6. To facilitate Real-Time communication between customer and accountant and avoid the traditional time-lags associated with accounts preparation
  7. To develop sustainable software solutions for our clients, maintain dialogue with HMRC and provide proactive advice on practical responses to emerging legislation

Our intention is to embrace HMRC’s initiatives and make coping with the rules simpler for the users of our software.

mobile

My Digital Accounts 4.5.1 Updates




The latest release of My Digital Accounts is now live!  Here’s a quick summary of the key features:

Payroll

Custom Pay Elements

Where a wide range of pay types are required, Custom Pay Elements can be set, e.g. Overtime, Double Time and Weekend Pay etc.

Hours x Rate Pay Calculator

Custom Pay Elements may be used to calculate the gross pay for an employee by using the Hours x Rate Pay Calculator.Double time and overtime payment

These are also displayed on the employee’s payslip:

Example Payslip

Should you want to suppress blank rows, simply delete that particular Custom Pay Element from the Hours x Rate Pay Calculator.

HMRC Inbox

Need to check HMRC’s Inbox?  You no longer need to leave My Digital Accounts!

From the eSubmission RTI menu, select HMRC inbox to view incoming P6, P9, SL1, SL2 and RTI messages.

Inbox details

Auto Number Generation

Customise your invoice and assignment numbers by setting the criteria used in Automatic Number Generation for assignments and invoices:

Auto Number Generation interface

Bulk Transactions

 

My Digital Accounts Menu

Bulk Transactions are now run from the main menu on the left side of the window, making them easier to navigate to.

Roadmap

To view the My Digital Accounts public roadmap please visit https://trello.com/b/txq2P4e1/my-digital-accounts-roadmap.

Contact Us

Support

For feedback and suggestions please visit our support page https://mydigitalaccounts.atlassian.net/servicedesk/customer/portal/2.

Social Media

Follow My Digital Accounts for regular updates, news and information on our social media channels:

Twitter icon @MyDigitalAcc

Facebook icon @MyDigitalSoftware

LinkedIn icon www.linkedin.com/company/my-digital-accounts