Moving Accountancy to The Cloud - accounting-software/online-accounting GitHub Wiki

Businesses are reorganizing themselves for the digital world and a new generation of accounting professionals is entering the market with high hope for easy access to data, speed and mobility. Driving digital revolution is everybody's agenda. Cloud will play a prime role in this transformation but it is not as easy as it seems. The prospects of a possible chaos, high cost and shifting away from the usual systems can be discouraging. Trying to choose the best online accounting software for small businesses can be a challenging for small business owners / freelancers / contractors. Designing Nomisma Solution creates a new temptation in the world of cloud accounting. This accounting system for small businesses is the best online accounting software in UK and has many unique features.

Trying to select the best accounting software for small business can be a difficult option. All the accounting data is detained on a remote local and through a secured access anyone can have access to the data. Our cloud accounting software program has many advantages over the other similar systems available in the market.
The accounts can be access from anywhere, and at anytime with the help of a secured internet access. Nomisma can be used on an iPhone or Android, giving users the option to use easy online accounting software. Accessing data from anywhere makes it easy for the business to analyze the current state of accounts and make arrangements for commitments
Information can be shared with people sitting anywhere. Any person with a secured login access and internet connection can have access to the records and perform business activities
Nomisma is cost-efficient and a very simple accounting software. In comparison to other accounting software packages for small business, our online small business accounting software is easy to use and customized reports can also be generated
Our online accounting software for accountants gives the privilege to modify / update information, there is no contract binding.

Nomisma Solution is white labelled cloud-based UK online accounting software and is designed keeping the requirements of contractors / freelancers and small businesses in mind. Nomisma is easy online accounting software, yet wide-ranging in its capabilities, and has been designed to accommodate all small businesses. As accountants, we are convinced that Nomisma is the The best cloud accounting software for small business and our clients can leave their accounting matters in the hands of specialists. Nomisma has streamlined a lot of processes and all the tasks can be performed with the click of a button.

Accounting requirements keeping changing and with the changing regulations and tax rates, it is important for small business to keep their accounting records up-to-date. Nomisma Solution can help small business owners in United Kingdom with the following activities:

Journal entries, debtor details, debtor summary, creditor details reports and summary
Purchase bill files can be saved in various formats such as.pdf or.doc or.docx
Purchase invoice uploads, subcontractor bills and debit notes
Mobile app
Dividends processed and dividend vouchers generated
CIS - subcontractor and contractor statements
VAT returns and be filed online, Flat Rate Scheme VAT and all other modules are linked such as payroll, self assessment and accounts-production
Commanding reporting system, such as:, balance sheet, P&L account, management reports, trial balance, thorough audit trail, comprehensive ledger report and transaction reports, VAT comparison report
Query sheet to resolve queries
Unique modules, such as: payment and reimbursement modules, use of home as workplace/office, proof of payment/receipts management (on mobile as well)
Direct feed from banks and multi-currency information
Expense-management and processing
Email invoices directly from software
Accounting for each department and auto-reconciliation, saving hundreds of hours of reconciliation time
Reference letters, saving ample time that is required to furnish income reference letters for the clients

In the United Kingdom, in 1990, all accounting standards were governed by the Accounting Standards Board (ASB). But lately, from 2 July 2012, the Financial Reporting Council took responsibility for setting the accounting standards. All accounting standards made and issued by the ASB are referred to as Financial Reporting Standards (FRSs). The standards comprises of the FRSSE (Financial Reporting Standard for Smaller Entities). FRSs are usually issued, for consultations, as an "exposure drafts" which are well-known as Financial Reporting Exposure Drafts (FREDs). In 2015, the FRSs - financial reporting standards FRS 100, 101, 102 and 103 (referred to new UK GAAP) came effective and from 1 January 2015, these FRSs replaced existing financial reporting standards which were issued by the FRC for reporting periods. The short form GAAP stands for 'Generally Accepted Accounting Practice'. GAAP is used to explain the rules generally accepted which are applicable to accounting practices as laid down by principles, regulations or upheld by accountants.