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    Tag: Cloud Accounting

    PM+M and CFO Techstack to host North West StackedX event helping finance teams scale smarter with modern technology

    Posted on by Rebecca Campbell

    Finance professionals from across the North West are being invited to attend a free technology-focused event hosted by PM+M – the chartered accountancy, business advisory and financial planning group – and CFO Techstack that has been designed to help businesses scale efficiently and make smarter financial decisions using modern cloud systems.

    Taking place on Thursday 19th March at the Stables Country Club in Bury, the North West StackedX event will bring together industry-leading technology providers including Mayday, Dext, Xero, Fathom, Mimo and Capitalise for a morning of insight, practical guidance and real-world examples. Attendees will learn how to build smarter systems, reduce manual workloads and unlock greater value from their financial data.

    The event will explore how businesses can design and connect a modern finance app stack that integrates accounting, reporting, payroll and forecasting, whilst addressing common inefficiencies that slow growth. The ultimate aim is to provide practical understanding of where artificial intelligence can genuinely add value within finance functions, helping to improve accuracy, automate routine processes and enhance insight without overcomplicating existing systems.

    The session will also demonstrate how companies can unlock underused features in their current tools, improve confidence in their data and move beyond historic reporting towards real-time financial visibility that supports better decision-making and more meaningful business conversations.

    The event will also challenge the assumption that scaling finance functions requires investment in large, complex and costly ERP systems. Instead, it will demonstrate how well-designed cloud accounting and app-based solutions can provide many of the same benefits – including automation, control and real-time insight – in a far more flexible and cost-effective way. This makes the session particularly valuable for organisations reviewing their current systems or considering a move to cloud accounting for the first time.
    The event is aimed at in-house finance teams, finance managers, business leaders and owners who are responsible for financial decision-making, as well as organisations already using cloud accounting software, those questioning whether they need a traditional ERP solution or considering transitioning to modern, integrated systems.

    Rosie Cooper – director of Cloud Accounting at PM+M – said: “Finance teams are under increasing pressure to deliver faster insights while managing growing complexity, and technology plays a crucial role in making that possible. This event is about showcasing practical, achievable ways to build systems that truly support growth, helping to reduce manual work, improve visibility and helping people to make better strategic decisions with confidence.”

    Date and times:           Thursday 19 March, 9am to 11am
    Location:                     Stables Country Club, Walshaw Road, Bury, BL8 1PU
    Bookings:                    Click here

    StackedX with PM+M and CFO Techstack: scaling your business with Xero

    Posted on by Rebecca Campbell

    PM+M is joining forces with CFO Techstack, a content and community hub by Mayday, to host StackedX. This free, in-person session is designed to give CFOs, finance professionals, and tech enthusiasts the insights they need to scale their business with Xero.

    The event will take place on Thursday 19 March 2026 at Stables Country Club in Bury and has been carefully curated to address the real challenges finance teams face when moving from traditional accounting software to cloud-based solutions.

    What is StackedX?

    StackedX is a practical, in-person event that brings together finance and delivery professionals to explore how modern tools and strategies can transform finance operations. Alongside cloud technology, AI is increasingly reshaping finance functions by automating routine processes, improving forecasting accuracy, and giving finance teams deeper, real-time insights to support better decision-making.

    The content is designed to be immediately useful, with sessions focused on:
    • Scaling businesses using Xero
    • Practical strategies for in-house finance teams
    • The latest trends and innovations in cloud-based finance tools

    This is a chance to hear from industry leaders who have already scaled with Xero and gain actionable insights you can apply in your own organisation.

    Why should I attend?

    This session is for anyone involved in finance, project delivery, or business operations who wants to:
    • Understand how cloud-based tools like Xero can support business growth and smarter decision-making
    • Hear from real businesses about what works in practice
    • Explore strategies that improve efficiency and automate routine finance tasks
    • Connect with peers and industry leaders in the North West

    What will I take away?

    By attending StackedX, you will:
    • Gain practical insights into scaling with Xero
    • Learn strategies to optimise finance operations
    • Hear about the latest trends and tools, including AI innovations, driving meaningful improvements in finance teams
    • Access innovative apps, products, and special offers to support your work
    • Make professional connections during dedicated networking slots

    The event also includes sessions designed specifically for in-house finance teams, addressing the unique challenges they face when adopting cloud-based and AI-powered finance solutions.

    Event details

    Date: Thursday 19 March
    Time: 9:00am – 11:30am
    Location: Stables Country Club, Bury

    Tickets are free and can be booked here.

    We hope to see you there…

    At PM+M, we know that understanding the right tools, systems, and strategies – including AI – is key to scaling successfully. StackedX brings those insights into the room, giving finance professionals and tech enthusiasts the knowledge and connections they need to make smarter decisions.

    If you’re involved in finance or business operations and want to explore cloud-based and AI-powered tools, gain practical insights, and connect with peers, this is the event for you.

    Book your place here.

    Why cash flow problems are often about process – not income

    Posted on by Rebecca Campbell

    Cash flow is one of the first things business owners worry about. The instinct is often to look at revenue or costs, assuming there must be “too little coming in.” But more often, the real strain comes from how money leaves the business.

    Late approvals, ad hoc payment runs, and manual reconciliations create uncertainty – even when the bank balance looks healthy. Owners and directors may end up making decisions with incomplete information, chasing paperwork, or wondering why cash seems to disappear overnight.

    When minor mistakes become major problems

    As teams grow, payment routines often evolve naturally. Bills are manually entered, approvals are requested face to face, payroll is processed close to deadlines, and reconciliations are done when there’s capacity.

    This informal approach can work when the business is small. But as it grows, small gaps start to have a big impact:

    • Approvals slip through the cracks
    • Multiple people touch the same task
    • Cash leaves without anyone seeing the full picture

    Before long, decisions become reactive instead of proactive. What feels like a cash flow problem may actually be an operational one – a lack of clear, repeatable processes.

    Creating predictable payment flows

    The solution is relatively straightforward: introduce structure. By reviewing invoices, grouping them into scheduled payment runs, and completing authorisations in good time, businesses gain predictability.

    Finance teams can see exactly what’s due, directors understand the impact on cash before funds leave the bank and last-minute surprises become much less common.

    How the right tools can help

    With the right platform, businesses can manage payments in a structured way while staying in control of outgoing funds.

    For example, Mimo, which integrates with Xero, can automate the majority of the workflow:

    1. Select invoices due for payment
      Bills sync straight from Xero into Mimo and are grouped into a single run.
    2. Internal review by a senior team member
      Oversight ensures correct coding, due dates, supplier details, and cash impact before anything reaches the bank.
    3. Review before finalisation
      Directors can check, ask questions, or make adjustments with full visibility.
    4. Authorise payments
      Funds are released securely – no manual uploads, ABA files, or spreadsheet juggling.

    This approach offers clear benefits:

    • Significant time savings – fewer touchpoints, no duplicate entry
    • Reduced risk of errors – automatic syncing and double-checks
    • Automatic reconciliation – payments match bills in Xero
    • Clear audit trail – every review and approval is logged
    • Everything in one place – payments, bills, and supporting info stay linked

    The process becomes controlled, visible, and easier to manage, freeing up time for leading the business instead of chasing paperwork.

    Get in touch

    If you want to see how a structured payment routine could work for your business, or if you have cash flow problems you would like to discuss in more detail, get in touch with cloud accounting manager, Luke Irving, by clicking the button below.

    Luke can review your current processes, show you how to simplify payments and help you gain full visibility and control over cash flow.

    Cloud accounting software – the future for growing businesses

    Posted on by Rebecca Campbell

    As your business grows, keeping on top of finances becomes more complex. Manual spreadsheets, separate systems for reporting, invoicing, and tax – it all adds up and takes valuable time away from running your business. Cloud accounting software provides a smarter, more efficient way to manage your finances, offering real-time insights and the flexibility modern businesses need.

    Cloud accounting is no longer just for larger organisations. Increasingly, small and medium-sized businesses are benefiting from cloud-based accounting tools, helping them work more efficiently and make better-informed decisions.

    Why cloud accounting?

    Access anywhere, anytime – One of the key advantages of cloud accounting is accessibility. Your financial information is securely stored online and can be accessed from any device with an internet connection. Whether you’re in the office, at home, or on the move, you can check cashflow, review transactions, or approve invoices, giving you up-to-date visibility of your business’s financial position whenever you need it.

    Real time financial insights – Cloud platforms update automatically, so the numbers you see always reflect the latest activity. Real-time reporting means you can make decisions based on current data rather than waiting for periodic updates. This helps with cashflow management, planning, and forecasting.

    Automation and time savings – Cloud accounting systems automate many routine tasks – like invoicing, bank reconciliations, and transaction categorisation – reducing manual work and the risk of errors. This frees up time for you and your team to focus on growth rather than administrative processes.

    Scalable to your needs – As your business evolves, your accounting needs will too. Cloud software can scale with your business, offering additional features, integrations and reporting capabilities without the disruption of costly upgrades or platform changes.

    Strengthened collaboration – Working in the cloud makes collaboration more straightforward. Whether it’s your finance team, business adviser or external accountant, everyone can work from the same set of live data. This reduces the need to exchange files and diminishes the risk of version control issues.

    Security – Security is a common concern for business owners. Cloud accounting providers invest in robust protection measures, including encryption and secure multi factor authentication. Your data is backed up regularly, reducing the risk of loss due to hardware failure or local file corruption.

    The future of financial management

    If you’re still relying on spreadsheets or desktop accounting software, now is a good time to consider a move to the cloud. Cloud accounting software delivers flexibility, security and efficiency that aligns with the needs of modern, growing businesses. With the right setup, you’ll benefit from enhanced visibility, streamlined processes and a platform that supports your business today – and as it develops.

    Ready to simplify your finances and take control of your business? Contact us by emailing enquiries@pmm.co.uk to find out how cloud accounting can transform the way you work.

    Don’t get caught off guard by cash flow surprises this Bonfire Night

    Posted on by Rebecca Campbell

    As November arrives and the nights sparkle with fireworks, one thing still threatens to dampen the celebrations for business owners – a sudden cash flow shock. The good news? With the right technology and foresight, it’s a challenge you can anticipate – and manage with confidence.

    At PM+M, we’ve built a cloud accounting tech stack designed to keep financial flare-ups under control — giving you clarity, confidence and control when it matters most.

    🎇 Clarity through cloud accounting

    Xero + Syft
    Xero sits at the centre of our cloud accounting approach – automating tasks like bank reconciliation, invoice management, and reporting. When combined with Syft, businesses gain access to advanced analytics and cash flow forecasting, with visibility up to 180 days ahead. These insights make it easier to scenario plan and make informed decisions before small issues become bigger bangs.

    🎆 Seeing the bigger picture

    Futrli + Fathom
    When planning for the future, we use tools such as Futrli by Sage and Fathom. Whether it’s three-way cash flow forecasting, visual dashboards, or board-ready reports, these platforms help translate complex financial data into clear, actionable insights. They’re ideal for schools, SMEs, and growing firms that need to stay agile and accountable.

    🔥 Strengthening supplier relationships

    Capitalise
    Managing cash flow isn’t just about internal processes — it’s also about building resilience through partnerships. With Capitalise, we help clients improve access to credit, extend supplier terms, and strengthen their financial position. This proactive approach supports smoother operations and stronger supplier relationships.

    💥 Flexibility when it’s needed

    Mimo
    When timing is tight, Mimo gives businesses breathing space by spreading payments over 30, 60, or 90 days — all while maintaining control and visibility. It’s a simple way to manage short-term cash pressures without disrupting day-to-day operations.

    🎇 Get in touch

    Our cloud accounting team ensures every client – from start-ups to established organisations – benefits from tailored software, bespoke app stacks, and ongoing training. The result? More time to focus on what really matters: growing your business with confidence.

    With the right systems in place, there’s no need to fear what’s around the corner. You’ll have clarity, flexibility, and control — no sparks, just results!

    To find out how we can support you and your business, get in touch with PM+M’s cloud accounting team at enquiries@pmm.co.uk.

    Making the move to cloud accounting: a guide to a smooth conversion

    Posted on by Rebecca Campbell

    Switching from a traditional desktop accounting system to a cloud-based platform can feel overwhelming. Whether you’re considering Xero, Sage, QuickBooks, or another cloud solution, the key is a structured, carefully planned conversion. At PM+M, we help businesses move their financial data and processes to the cloud efficiently, accurately, and with minimal disruption.

    Why make the move to cloud accounting?

    Cloud accounting offers businesses flexibility, real-time insights, and streamlined processes. Some key benefits include:

    • Access anytime, anywhere: Your financial data is available wherever you are, on any device.
    • Real-time reporting: Make decisions with up-to-date insights into your business performance.
    • Automation: Streamline invoicing, reconciliations, and reporting to save time and reduce errors.
    • Scalability: Easily adapt your accounting system as your business grows or evolves.

    A move to the cloud is about more than just technology – it’s about improving your processes and empowering your team to work smarter.

    How the conversion process works

    Migrating your accounting system is about accuracy, continuity, and minimising disruption. The typical process is:

    1. Scoping
    We start by understanding your current system, processes, and business goals to ensure your migration meets your specific needs. This process redesigns your current system to ensure you get the most from the new software.

    2. Data check and timeline
    Our team examines your historical data for completeness and accuracy, then provides a tailored timeline of what will happen when.

    3. Data restructuring
    We optimise your financial data for your chosen cloud platform; this may include cleansing the data in the current software pre conversion. We may also suggest a different chart of accounts or using features such as tracking categories to ensure reporting is as powerful as possible.

    4. Data migration
    Your data is imported with precision, mapping accounts, invoices, and transactions to ensure continuity.

    5. Reconciliation and verification
    Once migrated, we run reports and checks to confirm everything balances correctly and aligns with your historical records.

    6. System setup
    We configure user roles, permissions, integrations, and automated workflows to get your cloud system fully operational.

    7. Training and ongoing support
    We provide tailored training and continuous support, so your team feels confident using the new platform from day one.

    Making the move

    Migrating from a traditional accounting system to the cloud doesn’t have to be complicated. With careful planning and expert guidance, you can transition smoothly to a cloud platform that fits your business, whether that’s Xero, Sage, QuickBooks, or another solution. The result? Faster processes, more accurate data, and the ability to make smarter, real-time decisions.

    If you’re considering migrating your accounting system to the cloud, PM+M can help. Contact us at enquiries@pmm.co.uk to explore how a structured conversion can set your business up for long-term success.

    PM+M welcomes ten new apprentices for 2025 intake

    Posted on by Georgia Flatley

    PM+M – the Blackburn and Bury-based chartered accountancy, business advisory and financial planning group – has strengthened its commitment to developing the next generation of talent with the appointment of eight apprentices across its specialist teams.

    In the audit team, Charlie Harrison, Lucy Field, Finley Vila, Ellie Fisher and Richard Prest will be gaining hands-on experience supporting client audits across a broad range of sectors. With five new apprentices joining this year, it marks the largest intake into one single team to date. Reece Jones has joined the accountancy and advisory team, where he will be assisting with the preparation of financial statements and working closely with clients on their reporting requirements. Uzair Zariwala joins cloud accounting and will be helping clients make the most of technology to streamline their financial processes. Aisha Bibi Patel has joined the tax team where she will be involved in both personal and corporate tax work. All eight apprentices will be studying towards the Association of Accounting Technicians qualification.

    Across other areas of the business, Zainab Aswat has joined the payroll team, where she will support clients with payroll processing and compliance. Kate Walsh – who first joined PM+M on a temporary basis in May – has now taken up a permanent apprenticeship in the business support team, focusing on internal operations and client service delivery. Both apprentices will follow a structured study route tailored to their department, combining professional qualifications with practical experience.

    As part of their introduction to the firm, all apprentices will take part in a comprehensive induction bootcamp designed to familiarise them with PM+M’s culture, values and services.  They will also be able to start building strong relationships across the group, their teams and the wider business.

    Helen Clayton – managing partner of PM+M – said: “We are over the moon to welcome this year’s group of apprentices. Each of them impressed us with their drive, ambition and potential during the recruitment process. At PM+M we are passionate about developing people and providing them with the tools to succeed – both personally and professionally. We look forward to supporting them as they take their first steps into the profession and begin building their careers with us.”

    Nearly 3 million taxpayers to join Making Tax Digital – are you ready?

    Posted on by Rebecca Campbell

    HMRC’s latest figures reveal that nearly 3 million individuals with self-employment or property income will be required to comply with Making Tax Digital for Income Tax (MTD for ITSA) between April 2026 and April 2028.

    At PM+M, we understand that MTD can feel daunting for businesses and landlords alike. With deadlines approaching, now is the time to prepare — and we’re here to make the transition seamless.

    The phased rollout of MTD

    HMRC is introducing MTD gradually, based on income levels:

    • From April 2026 – Anyone with self-employment or property income above £50,000 must keep digital records and submit quarterly updates. This affects around 864,000 taxpayers.
    • From April 2027 – Those with income between £30,000 and £50,000 join the scheme, bringing in an additional 1,077,000 taxpayers.
    • From April 2028 – The final group, with income between £20,000 and £30,000, will be included, adding 975,000 more taxpayers.

    By the end of the rollout, around 2.9 million individuals will be within the scope of MTD ITSA.

    Who will be affected?

    HMRC data shows that large numbers of people will be drawn into MTD as thresholds lower:

    • More than 600,000 self-employed individuals and 260,000 landlords have income between £20,000 and £30,000 – they will join in 2028
    • Around 800,000 self-employed individuals and 182,000 landlords fall within the £30,000 to £50,000 band – they will be required to comply from 2027
    • Over 600,000 self-employed individuals, 118,000 landlords, and 141,000 people with mixed income already earn above £50,000 – meaning they are first in line from 2026

    This illustrates the scale of the change: it’s not just high earners, but also smaller businesses and landlords who will be affected.

    The digital readiness gap

    One of the biggest challenges is that many taxpayers are still unprepared for digital tax reporting:

    • 65% of those in scope currently use an authorised agent (such as an accountant)
    • Among taxpayers without an agent, 83% do not use software to submit returns
    • By contrast, most represented clients already use software – meaning those without professional support are the least prepared

    Why you should act now

    With nearly three million people moving to MTD, waiting until the deadline could put you at risk of non-compliance, unnecessary penalties, or administrative headaches. Transitioning early gives you time to:

    • Get comfortable with digital record-keeping
    • Adopt MTD-compliant software
    • Ensure you’re submitting updates correctly and on time

    How PM+M can help

    We provide tailored solutions to make your MTD journey stress-free:

    • Software setup + training – we’ll recommend and implement the right digital tools for your business
    • Quarterly submissions – we can manage updates directly with HMRC, keeping you compliant
    • Ongoing support – from troubleshooting software to tax planning, our expert team is here year-round

    Whether you’re a sole trader, landlord, or running a small business, we’ll ensure you stay ahead of the curve.

    Join us at our MTD drop-in days

    To help you prepare, we’re hosting two free drop-in days where you can speak directly with one of our MTD specialists about any queries you may have – no appointment needed.

    Thursday 25 September – Blackburn office (New Century House, Greenbank Technology Park, Challenge Way, Blackburn, BB1 5QB)

    Tuesday 30 September – Bury office (First Floor, Sandringham House, Hollins Brook Park, Pilsworth Road, Bury, BL9 8RN)

    Both sessions run from 10am to 4pm. Throughout the day, our team will be on hand to answer your questions on how MTD for ITSA will affect you, what digital records you’ll need to keep, the software options available, and how to make the transition to cloud accounting as smooth as possible.

    These events are open to everyone – whether you’re a sole trader, landlord, or part of a finance team – so feel free to drop in for a brew and a chat.

    Don’t leave MTD until the last minute

    The shift to digital tax reporting is one of the biggest changes in decades. With phased deadlines already set, the sooner you act, the smoother the process will be.

    Contact PM+M’s MTD experts today to discuss how we can help you transition to Making Tax Digital with confidence. Email enquiries@pmm.co.uk for more information.

     

    How to plan a successful cloud accounting conversion

    Posted on by Rebecca Campbell

    Moving to a cloud-based accounting system is a game-changer for growing businesses. It enables business owners to have immediate access to real-time data, better automation, and scalable tools to support faster decision-making. However, without careful planning, the transition can quickly become a costly distraction – or worse, a risk to your financial data.

    At PM+M, we’ve helped hundreds of businesses navigate this process successfully. Here’s our guide to getting it right first time.

    1. Define your objectives

    Before jumping into any migration, start by identifying why you’re moving to the cloud:

    • Do you need better reporting visibility?
    • Are you aiming to reduce manual processes?
    • Is remote access now essential for your team?

    Clear objectives will shape everything from platform selection to workflow design.

    Businesses that skip this step often find themselves with technically functional systems that don’t truly fit their operations.

    2. Map your current systems

    A cloud conversion is more than just simply updating your systems. You’ll need to map out:

    • Your existing chart of accounts
    • Key workflows (e.g. invoicing, approvals, payroll)
    • Integrations with tools like CRMs or inventory systems
    • Historical data that must be preserved or archived

    This stage is where many DIY conversions encounter issues. Even small mismatches between the old and new structure can cause significant downstream problems.

    3. Choose the right platform

    Every cloud system has its strengths – and no solution fits every business.

    That’s why we take the time to understand your needs, processes, and goals before recommending a platform. Our expert cloud team tailors every system design to suit your requirements now – and in the future.

    4. Implement training for your team

    One of the biggest post-migration risks isn’t technical – it’s people. Many teams assume users will “just figure it out,” but this can lead to frustration, poor adoption, and a return to old processes.

    We deliver tailored training and support to ensure your team is confident using the system to its full potential – and we’re always on hand for additional guidance.

    Ready to get started?

    Cloud accounting can transform your finance function – but only if it’s implemented, integrated, and adopted the right way.

    If you’re planning a migration, or just exploring options, our cloud accounting specialists are here to help. Email enquiries@pmm.co.uk to speak with our team and discover how we can help revolutionise your finance function.

    Is Xero suitable for multi-entity groups?

    Posted on by Rebecca Campbell

    If you’re considering a cloud accounting solution for your multi-entity business, Xero can often be overlooked as an option, with the assumption that the software is only suitable for smaller businesses. However, with its wide range of powerful features, Xero can help you boost efficiency and effectiveness across your group.

    In our latest blog, Rosie Cooper, cloud accounting director at PM+M, explains 6 reasons why you should consider integrating Xero with your finance function:

    1. Extensive app ecosystem

    Xero isn’t just about accounting tasks; it has a vast ecosystem of over 1,000 third-party apps. With its open API, Xero allows users to integrate tailored solutions, making it highly adaptable to your business requirements.

    2. Advanced tracking capabilities

    Xero provides strong tracking categories for reporting purposes, especially if you need to span various departments. For more detailed tracking, you can combine different types of information within one category, ensuring you can easily capture all necessary details.

    3. Efficient data management

    As your business grows, the need to manage data effectively becomes more and more important. Instead of inputting every single transaction, Xero allows you to summarise and streamline data – simplifying reporting.

    4. No need for expensive upgrades

    Before considering a comprehensive ERP system, take the time to explore Xero’s full capabilities and its app integrations. Xero meets the needs of many groups and large businesses, potentially saving the expense and complexity of a full ERP transition.

    5. Global functionality

    If your business is expanding internationally, Xero’s global features can be highly beneficial. Supporting various currencies, compliance needs and regional requirements, which are enhanced further by its third-party app integrations.

    6. Expert support

    For complex accounting needs, especially in multi-entity environments, expert advice can be invaluable. PM+M’s cloud accounting specialists, who are experts in Xero’s APIs and integrations, can help tailor the platform to your specific needs and ensure you’re making the most of its capabilities.

    Xero’s flexibility and extensive app ecosystem make it a cloud accounting solution which we wouldn’t hesitate to recommend – offering a wide range of tools and integrations that boost efficiency and effectiveness.

    Get in touch

    If you are interested in finding out more about how Xero can revolutionise your finance function, get in touch with Rosie by clicking the button below.

    PM+M sees turnover rise by 15% to record £10.75m

    Posted on by Rebecca Campbell

    We are delighted to announce we have seen our consolidated turnover increase by 15% to £10.75m in its last financial year which ended in March.

    We have also increased our total headcount to 164 after making 37 new team appointments, of which 29 are in newly created roles, since 1st April last year. This figure includes 10 apprentices who joined in September. People development has remained a central pillar of the business with a 25% jump in its dedicated training budget.

    We saw consistent growth across accounting, audit and advisory, cloud accounting, corporate finance, financial planning, payroll, tax and private client teams.

    Over the past 12 months, our firm has appointed Helen Clayton as our new managing partner following the retirement of Jane Parry who was in post for over eight years.

    Other notable achievements included leading on a raft of high-profile deals that were handled by the corporate finance team; winning retained contracts with several major North West companies; being named as a UK top 100 firm in the Accountancy Age 50+50 2023 listing for the sixth year running; the staging of a full events calendar for clients; and retaining Investors in People Gold Accreditation. There have also been two waves of promotions across the whole group at all levels.

    Helen Clayton said: “PM+M’s success is simply down to the talents of our people – they are what stand us apart. We all share the same core aims of cultivating strong, collaborative relationships with our clients and other professionals, all the while working together towards mutual success and growth. We also know that innovation is key, so we are constantly evolving the way we deliver our services by staying adaptable, being relevant and making bold decisions when necessary. We are investing heavily in our infrastructure and technology this year and we are excited for what this will enable.”

    Thinking of making the move to cloud accounting?

    Posted on by Rebecca Campbell

    If you are concerned that the traditional accounting software you currently use is inefficient and outdated, or you’re feeling the effects of ongoing recruitment difficulties, with accessibility from home becoming more important, then making the move to cloud-based accounting software may be the solution for you.

    In our latest blog, PM+M director and cloud expert, Rosie Cooper, outlines the process and discusses how to maximise your move to the cloud.

    1. Systems review

    A full system review is a good place to start. Our detailed scoping report will outline your key processes and any interaction between other software. We will spend time with your finance team, and potentially wider team members, to understand the current processes, pain points and then make clear recommendations to get the most out of your new software.

    2. Conversion and implementation

    Moving systems can often feel like a daunting task, which is why many businesses tend to delay it and endure inefficiencies or issues. However, enlisting the expertise of a conversion and implementation team can provide valuable insights into selecting the right system for your needs and tailoring it to your specific circumstances.

    Our dedicated team will collaborate closely with your business to understand your unique business requirements, ensuring a smooth transition.

    Once the software needs have been agreed and your app stack is designed – we will talk to you about the level of historic data that needs to be transferred for comparability and what we can do with older data to make sure you adhere to company law. We will also discuss the cut off point and timescale for conversion so that there is no need for parallel runs on two pieces of software. Once timescales and level of data is agreed, we will provide appropriately phased plans and dates.

    Depending on the size of the business and level of data being converted, a conversion can typically take between 1 – 7 days. For larger entities, this may be phased over several months to allow for work to continue and where a phased approach is more appropriate.

    3. Training

    Training is an important, and often overlooked, aspect of implementing a new system or process, with some assuming that their employees will just pick things up over time. We will provide a comprehensive training plan from the outset to ensure your team are utilising the system to the best of its capabilities.

    Training should be seen as an investment to ensure your change in systems runs smoothly, and you are gaining maximum efficiencies as early as possible.

    4. Post implementation support

    Ongoing training and support are paramount in ensuring any issues with using the system are quickly rectified, and your team are confident with the changes. By working with a cloud accounting team like PM+M, you can be rest assured that we will provide the specialist advice, training, and post implementation support to build your teams confidence in using the system, and to ultimately achieve the best return on investment.

    5. Expert app recommendations

    With an ever-increasing number of apps on the market (there are over 1000 in the Xero eco-system alone), it can be challenging to understand which will benefit your business.

    Our team of experienced advisers spend their time reviewing and testing a multitude of apps on the market, and can confidently recommend those which will work for you. From data inputting to approvals processes, expenses to automated reporting, we can help you improve efficiencies by implementing an app roadmap which aligns with your goals and objectives.

    6. Data health checks

    Once your new system is implemented and the data has been migrated, it is critical that you undertake regular reviews to ensure the data is free from errors or duplications which may harm your reporting or insights. Our Xero Health Check service has become a popular option to ensure you are still getting the best out of your Xero subscription.

    Get in touch

    Our team of cloud accounting experts are on hand to support you with your transition to cloud accounting, from the initial systems review, through to implementation, training and expert app recommendations. If you would like to speak to a member of the team to discuss your accounting solution in more detail, we would love to help. Send an email to enquiries@pmm.co.uk and one of our cloud experts will get back to you.

    The importance of managing cashflow during a recession

    Posted on by Katie Heaton

    With widespread predictions that we are about to face the longest recession since records began, many business owners are concerned about the detrimental impact this could have on their business. As part of our recession resilience series, we take a look at how managing your cashflow during a recession can help reduce the impact of challenging financial times.

    Managing cashflow poorly can result in small businesses struggling, especially during times of recession. Maintaining a healthy cashflow is always essential for your business but it might require some extra attention in this difficult economic landscape.

    Prompt invoicing

    You may find as businesses tighten their belts that sales fall, some customers may put smaller orders in or switch to cheaper options, others may ask you for extended credit terms or discounts for fast settlement. Keeping on top of any money coming into your business from your sales is essential for healthy cashflow. Ensuring prompt invoicing and making sure invoices have all the correct purchase order information attached will reduce the risk of an invoice being put into query, you may also want to request that prompt payments are also made. Using features in Xero such as auto reminders and integrating payment services will help with collecting any outstanding debts.

    Sending statements to regular customers can be a good way of prompting them to pay and remove any risk of them suddenly querying a long overdue invoice.

    Consider your payment terms

    Payment terms generally refer to the amount of time a payer has to make a payment for the service or product you have provided to them. This could be anything from 14 days, 30 days, or cash on delivery and it’s important to include your payment terms on your invoices and statements. This should also include how you would like the payment to be made.

    It is vital to make these terms clear as you may wish to offer a discount to encourage early payment or you could charge interest on any late payments providing you have clearly stated your terms. Using Xero you could have different invoice templates for different groups of customers which may state different terms depending on their payment history.

    Cashflow forecast

    If you don’t already have one, this is a valuable step to take. A cashflow forecast will tell you the expected flow of cash in and out of the business over a certain period of time e.g. 6, 12 or 18 months.

    Such forecasts can be very accurate providing you are realistic with your figures and are likely to consider factors such as income, bank interest, wages, material costs, rent, rates and utilities. Obtaining an accurate forecast of your finances will provide you with a clear outlook as to where you are currently and where you are likely to be in the future. This can help you to plan any steps you may need to take to protect your business, and potentially look to raise extra funds if you think it is going to be necessary.

    It is important to review and update your cash flow forecast regularly to ensure it is accurate when circumstances change.

    Check your profit margins and look to reduce outgoings

    It is always worth going through your outgoings carefully during challenging times to see if there are any areas you can look to cut back on, although they may only be small savings, it can soon add up if there are a few. Consider your bills and whether there are any better deals out there if you were to use a different insurance provider, for example.

    During a recession it is likely that your costs of sale increase, so it is recommended to check your profit margins are in line.

    Get in touch

    For further information or advice on any of the topics discussed above, contact our cloud team manager, Rosie Cooper, using the button below.  

    A comment to note that the article does not constitute personalised advice and that advice should be sought before taking any action.

    How Cloud Accounting could help your business in a recession

    Posted on by Katie Heaton

    The pandemic proved the importance of cloud accounting, with many businesses closing their doors and going fully remote, there was an influx of enquiries within our cloud accounting team. With many businesses wanting the ability to seamlessly shift to remote work and keep their accounting function running perfectly even when employees aren’t in the office, cloud accounting was the solution. Here we explore how the same advantages may apply to recessions.

    Xero

    Xero is an entirely cloud based accounting software for small businesses. It performs accounting functions such as invoicing, payroll etc. and also allows for direct business bank feeds to streamline bookkeeping. Xero has some great standard features such as business snapshot which is a dashboard style report, displaying performance measures to help you understand the financial position of your business. Using your customisable dashboard, you can discuss your businesses financial health with your adviser quickly.

    Using automated daily bank feeds and tracking categories you can keep a close eye on any areas of your business that may be more cost sensitive and very quickly see what is included within each nominal – even drilling down to a copy of the original purchase invoice within a few clicks of a button.

    As Xero platinum advisers, our cloud team work closely with Xero every day, offering expert advice in converting from other accounting platforms to performing Xero health checks and making recommendations for software integrations that will help improve efficiency and cut processing time for finance teams. Prices for Xero start at £28pm.

    Dext

    Dext is our no.1 recommend app integration with Xero. Dext is a software application that allows business owners to electronically capture and store receipts, invoices, and other supporting documents which a business depends on to ensure they keep accurate and secure financial records. Dext removes the hassle of manual entry.

    Dext also has the ability to fetch supplier information using API links, taking the stress out of uploading information out of the equation too.

    Telleroo

    For many businesses, making manual payment runs takes a large amount of time. From choosing which invoices need paying to manually inputting bank information to online banking – Telleroo takes care of all of that for you. Your supplier or contacts financial information (payment details) are all input into Xero, bills are then selected in Xero using payment due reports and marked as paid by Telleroo – this sends an automatic payment run to Telleroo for approval (with copies of the invoices if also using Dext) and with a very swift approval process the payment run will be made. No more manual bank payments!

    Approvalmax

    With more remote working and digitalised finance functions, Approvalmax acts as your approval stamp at a managerial level except it’s completely digital. As businesses look to tighten their spending in certain areas, Approvalmax allows for a seamless PO and PI matching process, with a completely bespoke approval matrix available.

    Capitalise

    We have partnered with Capitalise to enable an easy funding search application process which can be completely managed by us. Capitalise allows us to do one application to most high street and other less traditional lenders for a range of finance products – whether a simple bank loan or a more complex invoice financing facility, our relationship with Capitalise and the connection with cloud accounting software allows us to search for the right products if needed.

    Capitalise also has a credit improvement service which aims to help strengthen any companies with a less than average credit rating, which in turn will allow for better terms for any lending if required.

    Futrli

    Futrli predict helps prepare short or long-term forecasting and reporting using all your accounting data. You can see daily whole business analysis across all customers and suppliers. Follow profit and cashflow, and debt to discover how you’re tracking to your plan. It also has the ability to create and manage reporting boards and KPI packs, making reporting easy and accessible. Feeling the cashflow pinch? Futrli can track daily cashflow with pinpoint accuracy, understand the optimum time to pay suppliers to get the best cashflow for your business and see the impact of early or late customer payments.

    Futrli can also help speed up the budgeting processes with instant smart budgets using algorithms.

    How could this help in a recession?

    Cloud accounting makes it easier to predict and access the relevant information – not to mention the fact that cloud-based services tend to cost less than yesterday’s on-premises solutions and drive more value too. For everything that companies strive to do during recessions, such as cut costs, stay agile, get innovative – cloud-based software serves the agenda.

    Our experienced cloud team are proactively helping many businesses digitalise their finance functions by converting and implementing different software and applications to streamline the finance functions of all sized businesses.

    Get in touch

    For further information or advice on the above cloud-based options or any general guidance on what may be the right options to ensure your business is well equipped to survive a recession, please get in touch with our cloud team manager, Rosie Cooper, using the button below.  

    A comment to note that the article does not constitute personalised advice and that advice should be sought before taking any action.

    Spotlight on: Xero’s integration with Zigaflow

    Posted on by Rebecca Campbell

    As one of the leading cloud accounting software systems on the market, Xero is constantly evolving to provide its users with even more features and tools, and ultimately, a better user experience. One of the key ways in which Xero does this is through integrating and partnering with various apps, which support businesses in a range of ways.

    In this blog, we’re putting the spotlight on Zigaflow, a fantastic app integration available to Xero users. We will be exploring what Zigaflow can do for you – helping you make the most of your software.

    What is Zigaflow?

    Zigaflow is a CRM (Customer Relationship Management) software designed to work in line with your business processes. With a strong focus on efficiency, many time-consuming tasks can be automated across sales, business operations and customer service.

    There are 3 different subscription plans providing access to different modules including quotations, contract management, order management, purchase orders, stock control and much more.

    How does Zigaflow integrate with Xero?

    Connecting your Xero account to Zigaflow gives you an incredibly powerful way to run your business, and better serve your customers.

    Examples of how the integration between Zigaflow and Xero works include;

    – Invoices created in Zigaflow can automatically be pushed into your Xero account

    – Customer records in Xero can automatically be created or updated from Zigaflow

    – Invoices marked as paid in your Xero bank feed, can automatically update corresponding invoices in Zigaflow

    4 key ways Zigaflow can benefit your business

    1. Flexibility
      1. You have control over how your processes work to mirror how you do business
      2. You can produce better looking sales quotes and proposals, which align with your brand and can include product images, specification sheets and more
      3. Other document templates for invoices, order confirmations, purchase orders and more can be fully customised to match your branding.
    2. Visibility
      1. You can see exactly what is happening in every area of your business, at a glance
      2. Detailed reports can give you clear insights on performance across your business allowing you to make informed decisions quickly
    3. Efficiency
      1. By automating tasks, you can massively reduce the amount of resource required to operate across all departments
      2. Communication with customers, suppliers and internal team members can be systemised
      3. Information is easily accessible to everyone who needs it (subject to access rights)
    4. Scalability
      1. You can increase your user licences as needed, giving you a platform for growth
      2. With step-by-step instructions throughout the software, users can get started quickly and easily
      3. There are no limitations on the number of customers, contacts or products which can be stored in your Zigaflow account.

    For more information on integrating Zigaflow and Xero, click here.

    Get in touch

    Xero has a whole host of apps for a variety of different functions, and we would be delighted to support you getting started.

    For advice on Zigaflow, and how this may be beneficial for your business, feel free to get in touch with PM+M partner, Jill Morris, by clicking the button below.