Our next event

Making Tax Digital Seminar in Norwich

Making Tax Digital

January 2019
View details

Our next event

Making Tax Digital Seminar in Norwich

Making Tax Digital

January 2019
View details

Frequently asked questions

If you have any questions about MyLB please check out the frequently asked questions below or even better, get in touch so we can discuss your requirements face to face.
The term Cloud Accounting refers to bookkeeping software that is hosted remotely. Instead of storing financial data locally on your computer, the records are held by Xero on their secure servers. This means that your information is regularly backed up and accessible by both your business and your accountant in real time via the website or app on your PC, laptop, tablet or phone.
MTD refers to Making Tax Digital. These are new rules coming into force in April 2019.
MTD rules mean that if your business turnover is above the VAT registration threshold (currently £85,000) you need to report financial data electronically to HMRC. Xero is leading the UK market in providing solutions for MTD. More information can be found on the Xero website.
MyLB provides you with a subscription to Xero along with its favourite reporting app, Receipt Bank, as standard. We then complement this with year-end compliance and face to face support, with the technology and by including an end of the year meeting.
MyLB allows you to take control and manage your business finances in the most innovative ways with expert support at every step.
We feel that proactive advice from a qualified and respected accountant is what helps businesses succeed. Advice is best delivered face to face. We want to get to know you and your business and develop a strong working relationship with you.
We will handle the process for you by writing to your existing advisor and requesting all the historical data we require. This should take no more than a couple of weeks in most circumstances. This is a standard process accepted by all accountants.
If you are moving from Sage or QuickBooks desktop we can automatically transfer balances, customer and supplier detail, nominal codes, etc into Xero. If a full data transfer isn't available our team will use their experience to set up the opening position in Xero for a great start with MyLB.

Can't find what you’re looking for?

We do our best to answer all your questions, but if you can’t find the answer you're looking for please get in touch.

Meet the team

We have a dedicated MyLB team in each of our local offices headed up by one of our local Partners. Get in touch and your closest MyLB Partner will be in touch to arrange a no obligation initial meeting at your local Lovewell Blake office.

MyLB Features

Explore MyLB features and videos in detail to see how we can help design your bespoke accounting package.