Hello Dext Partners,
Today, I’m excited to share some game-changing updates to Dext Solo, our digital record-keeping solution designed specifically for sole traders, small landlords, and the professionals who advise them. If you’re not familiar with Dext Solo, let’s recap quickly.
What is Dext Solo?
Dext Solo empowers its users and their advisors with tools that simplify business operations. From capturing and coding transactions to analysing financial data for informed decisions, Dext Solo ensures sole trader and landlords’ data is up to date quickly and easily. For accountants and bookkeepers, Dext Solo features the same powerful tools, automations and insights you know and love in Dext Prepare, giving you and your team everything you need to deliver first-class, efficient customer service to those clients.
What’s new in Dext Solo?
We released Dext Solo almost a year ago, and today we’re sharing some significant product updates that make it an even more compelling solution for you and your clients.
Dext Prepare to Dext Solo Migration Flow
We’ve introduced a seamless workflow within Dext Prepare, allowing partners to effortlessly migrate a Dext Prepare business to a Dext Solo client. This is to make it easy to match the right Dext solution to each client.
Custom Category Management
This release delivers custom category creation, mapping, and management. Partners can now easily migrate Dext Prepare clients to Dext Solo without losing any custom codes and rules. Plus, provide custom coding tailored to client needs for transaction analysis (while also maintaining self-assessment tax box mapping at the same time!).
Summary and Tax Total Analysis and Exports
Dive deep into your financial data with our new Summary and Tax Reporting features. Access, analyse, and export transaction summaries by category and / or by Self Assessment tax box (SA103F). (Note: Property tax boxes for SA105 are coming soon!)
Spotlight on Key Dext Solo Features
During our recent Beta releases we’ve noticed that some features in particular present a real value to partners, and I wanted to share these here:
Disallowable Management for Self Employed Income and Expenditure
Dext Solo simplifies the process of defining the proportion of a transaction that is in scope for summary and tax transaction totals. Effortlessly assign the correct proportion of a transaction’s value to your client’s digital records.
Management of Property Income
Easily capture transactions related to individual properties and generate comprehensive reports. Note: SA105 and property tax boxes are on the horizon.
What’s on the Horizon for Dext Solo?
We know we have more to do, and we’re clear on our vision for the Dext Solo product roadmap. Here’s a quick view of what’s coming next and what to anticipate in the near future.
Before the end of 2023:
Tax Reports for SA105 Form for Self Assessment
Property income users will soon be able to access tax reporting to the SA105 tax boxes.
Coming in Q1 2024:
Error & Duplicate Transaction Flagging
Ensure data accuracy with our upcoming feature that flags duplicate transactions.
Tax Software Integrations
Streamline your tax workflows with API level integrations, allowing data transfer directly into your preferred tax software.
Transaction Lists for Each Tax Box Total
Dive deeper into your financial data by analyzing individual transactions within each category or tax box.
In Year Landlord Ownership Changes
A flow to automatically manage the impact of category totals derived from changes in property ownership within a tax year, in line with SA105 reporting requirements.
Rental Statement Uploads
Upload a rental statement, record the transactions in Dext Solo.
Stay in touch
We’re always eager to hear from our community. If you have any questions or suggestions, please reach out to your account manager or share your thoughts via UserVoice.
Our practice success team is also running regular Dext Solo webinars, which you can register for by clicking the link below.
Register for our Dext Solo Webinar Series
Stay tuned for more updates, and thank you for being a part of Dext!