read time

AccountingWEB’s Editor Richard Hattersley sits down with CEO Simon Guest for a tour of the Nomisma software suite.

AccountingWeb Product Showcase of Nomisma


Video transcript:

Richard: “Hello, I'm Richard Hattersley, and I'm joined today by Simon guest from rising practice software supplier Nomisma to learn a little more about the suite and see it in action. So, Simon, we've been suddenly hearing quite a lot about Nomisma, so when did you launch?”

Simon: “Well, funnily enough, the most common reaction we get to a demonstration of Nomisma is we can't believe anything does all that in one place, so it must be new, but in fact, Nomisma has been around for over six years now initially as an in house system and then latterly over the last 12 months or so significant investment to bring it out to the broader world, so I think it's a case of one of those things that have taken several years to be an overnight success.”

Richard: “And for the software itself, what does the suite include? Is it just bookkeeping and payroll?”

Simon: “No, far from it, we've got a full suite with end-to-end client onboarding, a value pricing tool, company secretarial, anti-money laundering, as well as final accounts and tax. And now also mobile apps.”

Richard: “Okay, the software market is crowded, especially in bookkeeping, payroll and tax and final accounts. So what is it about Nomisma that stands out from the crowd?”

Simon: “Well, it's certainly true there's a lot of software about for all these things individually but what were increasingly hearing from practitioners is it can be a little bit detached and also, it doesn't always feel like it's built for them. Of course, the price can quickly stack up. Whereas with Nomisma, it is made for practice from the off. It's not a small business system built out or, indeed, an acquired product that has been bolted on. It's there natively. We feel you can tell the difference and plus because all the software I've mentioned is under the same interface, it all looks the same way, it works the same way, it all shares the same data, and I guess where that's most powerfully apparent is with the bookkeeping and its automated integration across to final accounts and tax.”

Richard: “Well, we're here today to see in action, so what can you show us to illustrate what you've just described?”

Simon: “Okay, well, let's start with this view which is what you first see when you log in as a practitioner, and this is your whole practice in one place you've got several KPIs across the top there here on the left, we've got a list of clients categorised by entity type and then also by the services that you offer them and over on the right the deadlines aged over time, and the critical thing here is that this is all live information, so if I click on any of these counts, in this case, I will see the limited companies for whom I do bookkeeping work and even this isn't a static list so if I click on any of these, this will take me straight into the bookkeeping profile for this particular client and I can start. So just to illustrate, if I go and have a quick look at final accounts, payroll, self-assessment. It's all the same interface, same look and feel, same shared data. That also extends to the mobile app so let's have a look at that. Now, this is the app the client will use. You can see the overview there for business, and you can raise sales invoices on the go and enter purchase invoices. Still, we find practitioners prefer to handle that themselves, and you've got a list of contacts, suppliers and customers, plus you can put in mileage entries. But what you can also do is snap receipts, and all of this is immediately sync back for the practitioner in the browser app so let's go back and look at that. So looking here at the bookkeeping profile for the client, if I go into these pending receipts, this is where I would see anything that's been uploaded, and I can call up one of these invoices and then I can do a quick search to see if it has already been bookkept which in this case it isn't so I'm going to add it in and what we've just added in is optical character recognition so as you'll see it's picked up a certain amount of detail. I just need to fill in the remaining information, so I will put the expense type and the VAT rate and there we go, that invoice is now entered.”

Richard: “Well, thank you very much for showing us around the product there, Simon, but one final question is a big one with MTD on the horizon. I think the question everyone's lips is, how equipped is Nomisma to help practitioners through that transition to digital tax?”

Simon: “Well, to be honest, MTD for ITSA isn't a big deal from the point of view of most of our users because the data is already in there. What they'll need for the quarterly submissions is already there. We're already submitting MTD VAT returns. So we're just using data we already have and a channel we already use, so there's no significant change.”

Richard: “Thank you very much Simon. Please join us in our companion video, where we'll be grilling Simon with some of the most frequently asked questions about Nomisma. So until then, bye for now.”


Share To:

Register for a Free Trial

Sign up for a free 14-day trial and test out our cloud-based accounting suite.

Free Trial