Liquid Accounts Update

21 March 2011
Liquid Accounts Update

Cloud Accounting Software Specialist Secures Second Round Funding and Launches Major New Release

Cloud Accounting software specialist, Liquid Accounts has successfully secured second-round funding in order to develop its sales, coinciding with the release of Version 7 of its award-winning online accounting software. The new version includes many enhancements including a new optional integrated Payroll module.

The funding was raised from Liquid's existing consortium of investors which includes technology entrepreneurs Richard Doyle (Chairman), and Ian McNeill, and accountant and exited entrepreneur, Curtis Wright. As with the first round investment, the private investment was matched by The Aspire Fund (a Government Fund for women-led businesses managed by Capital For Enterprise) who invested because of the role of Lisa Kendrick, Marketing Director, in founding and developing the business. Once again the team were given help and support by Connect Yorkshire, not-for-profit company that helps growth businesses in Yorkshire and the Humber get the funding and expertise they need.

Andy Chaffer, Programme Manager at Connect Yorkshire commented: "Connect Yorkshire's services are designed to help high growth businesses seeking finance - Liquid Accounts is an innovative, ambitious Yorkshire company and Connect Yorkshire is delighted to have played a role in bringing significant new investment to a local company with exciting global potential."

MD, Matt Holmes said, "In the past year we've done a lot of work on structuring the company for growth and refocusing our sales efforts on building strategic partnerships where Liquid can be included as part of an offering of essential business services for an existing SME market or client base. We have also significantly grown our network of 'Accountancy Services' professionals who are supporting Liquid Accounts. As a result of this of this progress, our investors have committed more funds to accelerate the process and allow us to enhance and add to our existing software."

The latest version of the software includes:

  • Optional integrated Liquid Payroll
  • Easy input of recurring transactions (allowing users to add monthly bills and expenses such as rent or utilities just once)
  • One click email of invoices, order, statements, remittances (allowing users to send all your paperwork quickly and easily by email)
  • One click cash payments (allowing users to take a payment, create an invoice, and allocate the payment all in one go - great for shops and cash-based businesses)
  • New invoicing template
  • A whole new user interface with new menus, dashboard and aesthetic enhancements.

Matt commented, "We've actually been using Liquid Payroll ourselves for 4 years, and it's been used by some our larger bespoke clients for some time. With more users asking for an online payroll we felt that it was the right time to release a version for SME's. It fits in with our ethos of creating software that can grow with your business.

"As well as being fully integrated with Liquid Accounts, it allows you to file your payroll online and email payslips. The big advantage of using cloud/online payroll is that (as well as it being fully integrated with your accounts so that all payroll payments and deductions are automatically recorded), whenever the rules and regulations change, your software is automatically updated to reflect that."

The new version will be available to existing customers from mid March and officially launched at the techmesh 'Grow Your Business Through Practical Cloud Computing' event at DLA Piper in Leeds on Thursday 17th March.