Another year is coming to a close. It’s only natural to take a moment to reflect on how 2019 has gone before looking ahead to the coming year. A lot has happened in a year, and yes, we’re only talking about in your invoicing software.
It has been a big year at Debitoor, with some important new features introduced to improve localisation, adhere to governmental regulations, but most of all to continue to provide users with intuitive software for managing the invoicing and accounting for their business.
Here are just a few of the things that were updated or added in 2019 to Debitoor:
Accounting made even easier
One of the major focuses for the year was to do some updating to the financial reports tab. We took user feedback and worked with accountants to determine what features would be most helpful for users and narrowed it down to a few that were developed and implemented:
Profit & loss:
If you’ve been using the profit & loss statement, you’ll notice that there have been some big changes made. It’s now possible to view a ‘drilldown’ of a particular amount. That means that when you click on the amount, you’ll see instantly what payments contribute to those numbers.
The P&L also now provides the option to add opening balances, meaning you can start managing your cash flow at any time of year, easily moving your numbers over from an Excel spreadsheet, for example.
Balance sheet:
It became clear that being able to set an accounting year was essential for our users. This can be found in the balance sheet tab on the right side under ‘Edit accounting year’.
There is also a useful new expense category that is reflected in the P&L and balance sheet: dividends. If your business is already working with dividends, plans to in the future, or works with an accountant who is looking for that option, you’ll now find it reflected in your account.
Navigation bar move & design
One of the more obvious changes is also one of our final big improvements for the year: moving the navigation bar within the web app from the top of the screen to the left side. While this might seem arbitrary, there are a number of reasons that this design decision was made:
- More room for continued improvement across the software: by creating an expandable menu, it gives our developers more space to make improvements and additions in the years to come.
- A better use of screens: because most computers and tablets have screens that are wider than they are long, the left-side navigation bar provides more vertical space while making use of the horizontal space.
This new design also matches with some other design changes you might have noticed in the web app, such as the Suppliers tab and the financial reports.
Making Tax Digital
Our UK users will be well aware of the introduction of Making Tax Digital (MTD) this year. Currently, any businesses with an annual taxable turnover above £85,000, VAT-registered, must use HMRC-approved accounting software to manage and submit VAT returns for their business online.
This was made possible in Debitoor, making it easy to connect your account with your approved HMRC account and to review your VAT report before submitting your return electronically with a click.
Flat rate VAT scheme
With MTD came the implementation of a new option for UK users running a business using the flat-rate scheme. Under this tax scheme, businesses pay a flat percentage depending on the type of business. The only downside being that it is not possible to claim VAT under the flat rate scheme.
In Debitoor, the flat rate scheme can be applied to your account in your ‘Settings’ under ‘Tax & Registration’.
Additional improvements & changes
Although the above are some of the major changes that you’re likely to have noticed, there are a number of smaller updates that have been made, all with the aim to continue to provide fast and intuitive invoicing & accounting tools for your business:
Add multiple email addresses for a contact: We heard your requests and made it happen. Once you save multiple emails for a contact, these will automatically be included the next time you create and send an invoice for that customer.
Improved invoice history timeline: If you haven’t come across the invoice timeline yet, it can be a great resource for information about an invoice. You’ll find it beneath each invoice and now it’s even better with more actions included to provide greater detail.
Multiple attachments for expenses: Sometimes you receive more than just one receipt or invoice that must be included with an expense, so it’s now possible to upload more than one attachment when creating an expense.
And that’s not all! But these are the ones that we’re most excited about and believe will make the biggest impact for Debitoor users. Be sure to check them out and let us know if you have any questions or feedback.
What’s to come in 2020?
Of course, it’s not quite fair to provide an overview of all the great changes and additions that were made over the past year without then taking a moment to address the year ahead. In 2020 our main goal remains the same: “Helping small businesses thrive”.
With this in mind, our plans for the coming year revolve around you - what features and functions you would like to see added or updated to make running your business easier and giving you more time to spend doing the things you love.
For that, we need to hear from you. Every request/suggestion/wish is registered and recorded so that we know exactly what is most important to our users. So don’t hesitate to reach out in the new year.
Wishing you a very happy holiday season and all the best for the new year from all of us at Debitoor!
P.S. - Don’t forget to update your invoice numbers for your first invoice in 2020!
