Nomi’s Product Updates December 2024

Team Nomi

Dec 26, 2024
5 minutes read

In December 2024, Nomi will bring exciting updates across its accounting software, focusing on enhanced features for bookkeeping, payroll, invoicing, self-assessment, and final accounts. These improvements aim to simplify complex accounting tasks, boost efficiency, and ensure compliance for businesses of all sizes. From advanced OCR capabilities and streamlined invoicing options to revamped dashboards and improved export functionalities, every update is designed to offer a smoother user experience. Whether managing payroll or preparing tax submissions, Nomi empowers accountants and businesses with innovative tools for seamless operations.

Bookkeeping

• OCR: Enhance OCR algorithms with machine learning and AI to recognise varied fonts, handwriting, and receipt layouts, improving the accuracy of extracting information like vendor names, amounts, dates, and tax details.
• Incorporate natural language processing (NLP) to interpret context and handle receipts with inconsistent formats. For example, the system can distinguish between different types of amounts (subtotal, tax, discount, etc.).
• Use cloud-based OCR models for continuous learning and improvement. This allows the system to update its recognition capabilities based on new receipt formats and user feedback.
• Implement checks to flag potential OCR errors, such as mismatched totals or missing data, which the user can correct before finalising the entry.

Repeat Invoice

• Enable users to create recurring invoices that can be automatically generated at predefined intervals (daily, weekly, monthly) with minimal input. This is useful for subscriptions or ongoing services.
• Allow users to customise repeat invoices with variable amounts (e.g., different tax rates or quantities), and include payment reminders, discounts, or notes that change periodically.
• Integrate dynamic fields such as due dates, payment terms, and invoice numbers, ensuring that each new invoice generated is updated with the latest information, avoiding duplicates.
• Seamlessly link invoicing with payment systems to allow automatic payment collection or to send invoices via email, reducing the manual effort required.

Payroll

• We have introduced a new type of starter declaration ” No P45 or Starter Declaration”. This option is particularly useful for situations where employees don’t have existing employment records. Employers can select this option and report it directly to HMRC ensuring compliance and accurate record-keeping.
• We have introduced a new feature allowing employers to upload documents directly. Employers can attach documents up to 500 MB such as employee starter checklist or any other relevant files. This helps streamline record-keeping and ensures easy access to essential documents.
• Simplified Holiday Hours with Ranges Selection:- This feature is very beneficial for our customers. Previously, they could only add up to 12 hours of holiday per day. We’ve enhanced this functionality, allowing them to specify a start and end date along with the maximum hours.
• Customers no longer need to enter holidays day by day; instead, they can input the entire range at once. The system will automatically calculate 12 hours per day and provide a slider to adjust the total hours as needed.

Final Accounts

• FA Dashboard Revamp for Limited, LLPs, Sole Traders, and Partnerships: The revamped dashboard offers a sleek and user-friendly interface that streamlines the monitoring of key financial indicators and deadlines. It highlights the status of crucial financial tasks such as final accounts, corporation tax submissions, and important figures like turnover, expenses, and profit/loss margins. Automated tracking of critical deadlines—such as Final Accounts and Corporation Tax—ensures compliance with minimal effort. The clean, visually appealing layout presents data in intuitive graphical formats for easy insights. Additionally, features like internal notes improve documentation and collaboration. By simplifying complex tasks and reducing the need for manual tracking, this dashboard empowers users to focus on their core business operations, boosting both efficiency and peace of mind.
• Implementation of Tooltips and Navigation for CT600 Dashboard: The addition of navigation tooltips and informational icons within the CT600 boxes greatly enhances the user experience by offering clear and straightforward guidance. When users click on specific icons next to the boxes, they are smoothly redirected to the appropriate adjustment page, where they can easily modify the values for the CT600 forms. The informational icons further contribute by providing additional clarification, improving the user interface as a whole. This approach reduces user confusion, minimises the chance of errors, and simplifies the filing process. Furthermore, the intuitive navigation features improve accessibility, enabling users to complete the forms effectively, even with little prior experience. Ultimately, these features contribute to a more user-friendly navigation experience within the CT600 form, boosting user confidence and ensuring compliance with tax regulations.

Self Assessment

• Performance Improvement on Export Functionality: Optimised the export functionality for Taxable Income Breakdown reports, enhancing speed and reliability.
• Export to Excel for SA & PTR: Replaced the Export to CSV option with Excel export on the Client Dashboard. This simplifies data management, improving formatting and usability for users.
• UI Updates Across SA and PTR Dashboards: Updated the Agent Dashboard UI for SA and PTR dashboards, including Client List, Schedule Email, and Work Pool pages, ensuring consistency with the new design. These updates enhance navigation and create a more cohesive user experience.
• Accurate PTR/LLP Submission Status: Ensured that submission statuses for PTR/LLP are accurately reflected across all Agent UI pages, improving data accuracy and reliability for users.

This December, Nomi introduced advanced OCR for bookkeeping, enhanced recurring invoicing, payroll updates for compliance, streamlined holiday hours, and revamped dashboards for final accounts and self-assessment. These updates simplify accounting tasks and improve efficiency. Your feedback is important. Share suggestions or questions at [email protected]. Stay connected for more exciting updates!