Garage Hive Accountancy
Garage Hive has it's own built-in accountancy system and several integrations with external accountancy systems.
Our integrations are available with the following systems
Sage 50 Cloud
Sage Business Cloud Accounting
Garage Hive's built-in accountancy system is feature-rich and making-tax-digital ready. Find some of the features below.
If you want to use your existing accountancy package, take advantage of the several available integrations.
The Xero integrations utilises the Xero API meaning that transactions automatically appear in your Xero accounts without the need to export and import CSV files.
Garage Hive includes an extensive bookkeeping and accountancy package seamlessly integrated into the workshop management and reporting system.
Bank account reconciliations
Bank account reconciliation is simple with Garage Hive. Import your bank statements into Garage Hive and set up rules to automatically reconcile your statement lines. Garage Hive will also make suggestions on bank reconciliation lines for you.
Making Tax Digital Ready
Garage Hive is making-tax-digital ready.
Visibility into your VAT obligations
Create VAT returns based on VAT obligations
Reminding users of upcoming VAT obligations
Submit the VAT return to HMRC
View your VAT liabilities and payments
Your entire sales process can be easily tracked, from the initial estimate through to the order and invoicing of your customers. The ability to create templates for common orders is available, as well as the creation of discounts based on item groups or customer groups. The payment of invoices is a simple process of applying what has been paid and posting it. Send statements via email to your customers directly from Garage Hive.
The purchasing process can be as straightforward or complex as your business requirements are. Payment suggestions, overdue payment reminders and vendor reporting is available in Garage Hive.
Chart of Accounts
Create your chart of accounts in Garage Hive. Transactions made in the garage management system will be posted directly to the nominal codes you specify. Your chart of accounts can be as complex or simple as you wish.
Garage Hive gives your accountant a free, full license to use. This can be used to assist you or complete the year-end tasks within Garage Hive.
Included in Garage Hive is a purchase order system. All purchase orders completed in the garage management system will be posted directly to the purchase ledger as invoices - eliminating the need for double entry.
Create profit and loss, balance sheet and various other reports within Garage Hive. Filter these reports by branch, location or account manager.
Know where your funds are going using dimension tags that can be placed on customers, items, expenses, invoices, line items on those invoices, and more. With this automated, you can easily view real-time reports on the health and performance of your business.
Garage Hive includes an extensive stock management system. Create multiple stock locations and bins. Transfer stock between branches and apply transit routes. Various pricing methods are available including FIFO and average.
Create journals, journal templates, recurring journals and journal reversals.
Fully integrated into Garage Hive
Office 365 for business subscriptions start from £3.80 per month and can be incorporated into your Garage Hive subscription.