MTDfB: An App designed to deliver.
Whether your firm is slow to adapt to the digital age, or is at the bleeding edge of what’s possible; the transition to MTDfB can offer efficiencies and improvements in data management and client responsiveness for a firm that’s ready to embrace the changes. Whatever your firms’ situation, our solution can help. It’s called ‘Collect’ and it’s been developed with advice from our clients and end users, alongside leading organisations like the ICPA.
It’s part of our current App, sitting on your client’s smartphone or tablet and it requires no prior accounting knowledge. It’s designed with simple clients’ affairs in mind. These clients, who are non-VAT registered and employ no staff, may find digital record keeping as offered by the standard bookkeeping cloud packages a new and potentially daunting and confusing experience. What they will be used to, and likely comfortable with, will be entering data through our App – as it’s as easy to use as Facebook or Mail on their devices.
We believe this solution to MTDfB presents an exciting opportunity for the profession; transforming the accountant into a real-time tax advisor.
In providing your clients with a single, simple App; you can retain that trusted advisor status which is in danger of being eroded by the introduction of MTDfB.
If you are a current OneApp client, then you can benefit from the following:
- Free upgrade to MyFirmsApp Collect module*
- Access to your own Agent review dashboard
- Integration with HMRC
- Auto chasing solution – the App will remind clients to submit any outstanding data required for quarterly reporting
- Free activation for up to 75 of your clients – they can sign in, manage expenses and all the features
- Free items processed in the first 12 months – up to 500
- Total free items processed – up to 37,500
- Agent Privileges
- GDPR Compliance
*Free upgrade applies to software only, there is a charge per end user
Your clients get:
- An amazing App from their trusted accountants
- A complete solution to MTDfB and great service from you
- Auto population and synchronisation to the Collect Portal
- Storage of items such as receipts, income and mileage
- Access to their dashboard to review items & manage
- Complete peace of mind
- Opportunity to use the technology in the way that they are most comfortable
Firstly you need to have your own App running on the *MyFirmsApp core OneApp platform – pricing here.
Once you have this, then we will upgrade you for free to the Collect module, features and functionality. This gives you free activation for 75 clients (who can sign in and use the tool) and free items processed per client (up to 500 per client per annum) giving you up to 37,500 items processed.
If you require additional users then these can be purchased in blocks (see below)
|Users||Price Per User|
|1 (on demand)||£3.00 per month|
|10||£2.50 per month|
|20||£2.30 per month|
|40||£2.10 per month|
|50||£2.00 per month|
|100||£1.50 per month|
Please note: The above fee is per user, per month for a maximum of 500 items processed.
Additional items processed can be purchased
If you have clients who use their allowance of 500 items processed, don’t worry. You can purchase additional credit and upgrade their package from 500 items to 1000, 1000 to 1500 and so on.
The additional monthly cost is as follows to upgrade to up to 1000 items per user, per month:
|Users||Price Per User|
|1 (on demand)||£3.00 per month|
|10||£2.20 per month|
|20||£2.00 per month|
|40||£1.90 per month|
|50||£1.70 per month|
|100||£1.40 per month|
What is an ‘item’?
This is an item that your customer processes using their smartphone or tablet, which synchronises with the dashboard. Currently, this will be a combination of receipts, mileage and income.
*Note if you are an existing client, you need to be on the OneApp platform or above. Please contact us for a special software upgrade bundle.
How to charge clients
MTDfB affords you the opportunity to give your clients the functionality and technology to solve their legal obligations in a painless, simple and easy-to-use manner. It will delight your clients, increase your profits (if you get the pricing right) and save you and them time.
If you don’t provide the solution, what’s their alternative?
It’s going to mean your clients are forced to use 2 or 3 different Apps (Receipts, Income and Mileage Tracker) and pay for each one (prices range for just 1 solution from £4 – £9 per user for low use). That means not only spending a lot of money, but each App dilutes your strength as an accountant (the opposite of launching your own App). It’s also very confusing with 3 different login profiles and 3 different dashboards, with no visibility between one and the other.
What’s worse, with no centralised place, you will have no idea who has submitted what.
Furthermore, there is no Agent privilege to review the data and that means your clients are left allocating stuff to places they think are right – and we all know what that means!
So instead of this, why not give them one solution and each time they are interacting with it, it’s in your branding – a service and solution provided by your practice. That’s great news, as it’s solidifying your status as trusted advisor, it’s protecting your client from competitors and it’s streamlining the service you provide.
As a result, we feel it’s something you should feel comfortable charging for, and by doing so you will help your customer make use of the tool and get the value out of it. Of course, charging for it is a decision every individual firm must make on their own, accessing their own client base and reviewing this against the current charging model. It may be that you charge some clients but include it for others who might be paying a little more already.
We have seen firms consider charging clients between £5 – £45 per month for the solution.
Whatever your decision on pricing, the great news is responding to clients, reaching out in a mobile way and bringing everything together into one sensible and centralised place have huge benefits for your firm and your customers.
How do I review this as an Agent?
Ensuring you are always in the loop, the Collect platform gives you complete control. Simply log in using the Collect Cloud (using any modern web browser, at a location that works for you), select the client you wish to review and you now have full access to all records collected. In every sense, you are now fully logged in as your customer. You have identical access rights (allowing you to perform the same set of actions your customers can).
Thanks to built-in ‘instant sync’ technology, you always have the most up-to-date copy of your customers records – no more chasing your customer to send you an export of their data, or manually entering thousands of records. Working with live data saves you time and money, freeing you and your team up to focus on what’s really important.
What’s more, our ‘Unsure’ category makes allocating records a breeze. Any income or expenses the customer is unsure about can be seen, allocated and saved, reducing error and removing a pain point for your customers (“how do I categorise this expense?”).