Key features of e-solo
24/7 web based payroll, book-keeping, accounting and administration software.
The software has been designed for use by freelance consultants, independent contractors and small business owners who have no previous accounting experience whatsoever.
What does it do?
The use of the software removes all parties in the contractual chain from the risks associated with the Managed Service Company (MSC) legislation.
In a matter of minutes each week the software will enable you to create invoices, record expenses and run weekly or monthly payroll. It automatically calculates and accounts for PAYE, VAT and Corporation Tax. It produces accurate management reports to assist you or your accountant to produce your business’s year end accounts, quickly and efficiently. Our document management system stores all that vital information.
It is easy to use, jargon free and cuts the cost of book-keeping or accountancy fees by an average of 50% or more. Our research indicates that the use of e-solo will provide the most cost effective accounting solution for the freelance contractor market currently available in the UK.
What does it cost?
The annual licensing fee is £650.00, inclusive of VAT and legal expenses insurance and a contract review for IR35 purposes. This represents a weekly cost of £12.50 and after tax less than £10 per week and is approximately half the cost of an umbrella or accountancy service provider. We also offer a variety of repayment plans to spread the cost. For example a £95 deposit, followed by either 5 monthly payments of £120, or 20 weeks at £30 (these repayment plans include an administration charge of £45).
What assistance can I expect from Solo?
Our UK based customer care team will assist you to input all the relevant data to get you started.
e-solo includes a review of your contract terms and conditions and your working arrangements (this typically costs £100) through leading tax compliance specialists Qdos Consulting Ltd., to help you clearly establish your employment status and to comply with the IR35 legislation.
We offer excellent telephone advice and support on all contractual matters and will provide training and assistance, if required, to perform each task. We also provide on-line demonstration videos.
e-solo includes a legal expense insurance that will pay up to £75,000 towards accounting and legal fees in the event of an HM Revenue & Customs enquiry or dispute. This valuable cover protects each party in the contractual chain from unbudgeted costs arising from an enquiry or dispute such as an IR35 or MSC matter. Solo will represent you in the event of such an enquiry.
Solo Accounting Ltd offer “ad hoc” accountancy services, if required, at highly competitive rates for e-solo users.
For a video demonstration of the software please click on the appropriate tabs.