Did you know that at the beginning of January 2023, there were still 5.7 million 2021/22 tax returns to be submitted? And an astonishing 860,000 of these ended up being filed on 31st January - deadline day!! 🤯

Here at SB Bookkeeping & Accountancy, we aim to submit our clients’ tax returns before the Christmas break. Remember, even if your tax return is submitted now, you still have until 31st January to pay 💰 and the bonus is this gives you time to budget. Imagine leaving it until the last minute and realising your tax bill is much bigger than you’d expected?

We are still taking on a limited number of new self-assessment clients, so if tax returns are all the way at the bottom of your to-do list, then get in touch

How is AI changing your business?

a. No noticeable changes in our operations or processes.
b. AI has made some improvements, but not a game-changer.
c. Significant time savings and better data insights.
d. AI is redefining how we operate and make critical decisions.

Let us know in the comments.

💡 Curious about how AI is changing the game in finance and accounting? Let's fast forward to the future of bookkeeping… oh, hey 2023, we seem to be here already!

AI has become an integral part of our everyday lives and bookkeeping is no exception, and AI is set to revolutionise the industry. The beauty of AI is that it frees up more time for us to provide personalised service to you, enabling us to cater to your specific business needs and challenges.

The human element of bookkeeping is irreplaceable.

How about in your industry? What will AI do for you? 🤖

AI is having a profound impact on bookkeeping in several ways:

Automation of Repetitive Tasks: AI-driven bookkeeping software can automate time-consuming and repetitive tasks you hate. Think data entry, transaction categorisation, and bank reconciliation. This not only reduces the likelihood of errors but also saves you heaps of time so you can do something you love instead.

Efficiency and time savings: By automating routine tasks, AI allows bookkeepers to focus on higher-level activities such as analysing financial data. This means we can give you strategic advice so you can make informed decisions at the right time - meaning you can do more of what you want to - better.

Real-time insights: AI can process and analyse data in real-time, and that means you can get immediate insights into your business’s health. Fast, data-driven decisions, here we come!

Data security and fraud detection: AI tools can enhance the security of financial data by detecting anomalies and potential fraud. They can automatically monitor transactions and identify suspicious activities, good to know.

Cost savings: Of course, the use of AI reduced manual data processing leading to cost savings. It can also save money in terms of saving costly errors.

AI brings great opportunities. It has the potential to transform bookkeeping and enhance the service that business owners can receive