Access Accounting - Blog

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Customers to benefit from Access brand elevation

Find out why we decided to rebrand and what it means for our customers and the solutions we provide:

Businesses Face Challenge of Fundamental Changes to Tax Point Rules

EU changes, due to come into effect from 1st January 2010, will create serious challenges for software vendors and the business community alike.  The changes dictate that if you invoice services to another EU state that you must adopt a tax point based on either the time of supply, or the time of payment, whichever is the earlier.  This means the invoice date will no longer apply. Most software applications make the assumption that your tax point date will be your invoice date by applying the 14-day rule. They work on the core accounting principle that this date is fixed and most applications will not allow you to change this date after the invoice has already been posted.

The new tax point regulations will also require changes to invoice and credit note formats, and the application of Reverse Charge VAT to these transactions which will be liable to the tax rate within the receiving country.   A further complication is that HMRC will change the format of the EC Sales List.  This will mean that any company that currently submits an EC Sales List will be affected by this change - even if they do not provide or receive services from the EU.  A large number of traders will require upgrades to their software to accommodate these changes. I would suggest that businesses think about contacting their software supplier to ensure that their solution will comply. 

The software industry, represented by BASDA, has made representations to HMRC.  These changes will affect the demands on accounts software and will clearly create an additional burden to businesses themselves (see our press release). A full announcement of the HMRC’s interpretation of the rules is expected on 22nd April – Budget day. We can only hope that common sense will prevail and sensible exemptions put in place.

Kevin Misselbrook
Customer Services Director, Access Accounting
Deputy Chairman for BASDA

Is climate change slipping down the agenda?

It was interesting to see the commitments made at the G20 summit last week and re-assuring to note that green and sustainable recovery featured amongst the six pledges made by the world leaders meeting in London. 

Counting the cost of carbon emissions

Measuring carbon emissions is a vital first step if a company is to have any hope of changing behaviour within the organisation. It’s not until we’re faced with the hard facts – together with the cost implications - that we have the drive to make changes.

Should we account for carbon emissions?

I thought it might be worthwhile to draw attention to likely changes to the Companies Act which will include new obligations for companies to report on their carbon emissions as early as 2012.  This change could bring a whole new market opportunity...

To read Kevin's full comments visit the ICAEW Online Network.

The FD's role in the economic downturn

I read with great interest an article on the role of the FD, expecially in these testing times - visit: Finance: The unvarnished truth to read the story and my comments.

Ian Little
Finance Director
Access Accounting

AccountingWEB - Microsoft goes green with environmental ERP dashboard

We’re delighted to see that Microsoft has followed Access Accounting’s methodology of extending the data input facilities within the finance system to capture carbon emissions data (see AccountingWEB for full story). This provides a practical and economic way in which to address the growing need to report on greenhouse gases.

Looking at the information available, there are a number of similarities between the approaches of Microsoft and Access. This validates the innovative work that we delivered a year ago and helps to establish a standard for other software vendors to follow.

To correct any misconceptions, within the Access Dimensions solution, carbon emissions data is at the very core of the accounting and finance system. The carbon emissions data is an integral part of the company General Ledger providing reporting, the management of carbon budgets, and a full audit trail. Having the carbon measurement function as part of finance function enables the company to measure both the environmental and economic benefits from a single data source.

According to a recent Access Accounting survey, 64% of respondents believe their company should be monitoring its carbon emissions. Additionally it is highly likely that carbon emissions reporting will become a mandatory requirement and software vendors need to respond to this growing demand.

Kevin Misselbrook,
Customer Services Director
Access Accounting

FSN - Microsoft follows Access Accounting’s lead

We read with great interest the article by FSN which shows that the tools to help business effectively measure and manage carbon emissions is gaining pace. To read more on the story visit the FSN website.

Green, at what cost?

I was recently taken to task for saying that I fully support green business "so long as it is not to the detriment of the company". My protagonist is of the view that green practice must be put ahead of profit without exception or excuse. I hope you will agree that this is just not practical?

Healthy, fast growing and profitable companies can afford to work in a responsible and sustainable manner. Companies living from hand-to-mouth are unable to take a long term view or follow best practice on anything.

I am convinced that the planet needs to reduce its carbon footprint and this can only be achieved if Government leads the way and everyone, including business, plays a part. I have no doubt that green business is good business; in fact it is essential because of the adverse economic impact of climate change and I am keen for Access to do its bit.

Any company changing to a greener business model now will have greater opportunity to excel in a future carbon efficient economy. In addition to initiatives to reduce power consumption and waste in the office I am keen that the business cut its use of fossil fuels by reducing journeys, sharing cars and using trains where possible. The benefits of phone conferences and on-line demos are compelling BUT only where they are appropriate and do not put customer satisfaction or business opportunity at risk. Where we can engage with like-minded customers who appreciate a “greener” approach to their relationship then all parties win.

As a business we take a long term view of everything we do and I am personally very happy to take an up-front capital hit by investing in sustainable practices which offer a pay back over a large number of years. For example with property I would invest in renewable energy and sustainable building methods. What I am not prepared to do is compromise our ability to compete or compromise on providing the ultimate in customer service - because this is what funds our opportunity to take a long term view on everything else.

In a black and white world of extremes where people are either extremely green or not green at all I hope you will join me in taking the middle ground whereby we all do proactively and willingly all that we can whilst protecting our profit opportunity.

Alistair O'Reilly
Group Managing Director
Access Technology Group