Set Up New Business/Practice 

In Acxite, all records and submissions are linked to a Business. A “business” can be a registered company, sole trader, partnership, department, or charity. Setting up a business correctly ensures accurate VAT and ITSA submissions and keeps your accounting records consistent. 

Table Of Contents
  1. Set Up New Business/Practice 
  2. Prerequisites 
  3. Related Articles 
  4. Frequently Asked Questions 

This article explains how to add a new business in Acxite. You can do this in two ways: 

  1. Add New business while signing in with Receipt Bot credentials  
  1. Add new business manually (from the dashboard) 

Prerequisites 

Before you begin, make sure you have: 

  • Business name (as it appears on invoices, bank or card statements) 
  • Country and base currency information 
  • VAT details (only required if the business is in the UK): 
    • VAT/GST status 
    • VAT/GST scheme 
    • VAT/GST registration number 
    • VAT/GST period

Note: Enter these details carefully. Country and base currency affect tax rules and how Acxite prepares returns. 

Option 1 — Add a New Business with Receipt Bot Credentials 

Step 1 – Navigate to the Acxite sign-in page. (https://acxite.receipt-bot.com/) 

Step 2 – Enter your Receipt Bot email and password. 

Step 3 – Then click Sign in. 

After successful sign-in, a welcome screen appears with the message “Welcome to Acxite.” 

Step 4 – On this screen you can: 

  • Select an existing business imported from Receipt Bot, or 
  • Click Add new business to create a new one. 

Step 5 – If you choose Add new business, continue with the manual steps below (Option 2). 

Note: When importing from Receipt Bot, Acxite imports the basic business details, so you don’t need to re-type them. 

Option 2 — Add New Business Manually (From the Dashboard) 

Step 1 – From the Acxite dashboard, click the gear icon. 

Step 2 – Select Add New Business. 

Step 3 – Complete the new business form providing the following information 

  • Business Name — Enter the official name as it appears on invoices and statements. (You cannot add two businesses with the same name under one account.) 
  • Short Name —It is mainly used to create a document inbox for emailing invoices and statements and is unique across the system. (Just like you cannot have two Gmail accounts with the same ID.) So, you might get a ‘Name already taken’ error. Please make the short name recognizable. The system displays the short name if the business name is longer than 30 characters. 
  • Country — Select the country where the business is based. 
  • Base Currency — This is auto-selected based on the country. If your invoices use other currencies, Acxite will translate them into the base currency for reporting. 
  • City / State (optional) — Useful if state-specific tax rules appear on documents. 

Step 4 – If you selected United Kingdom as the country, a VAT details section will appear. Provide the following: 

  • VAT / GST Status (e.g., Registered / Not registered) 
  • VAT / GST Scheme (e.g., Standard, Flat Rate) 
  • VAT / GST Registration Number 
  • VAT / GST Period (reporting period for VAT returns) 

Note: The VAT details section only appears when UK is selected. Fill these accurately if you plan to submit VAT via MTD. 

Step 5 – Click Next to open Business Settings. 

Step 6 – On the Business Settings page, you’ll see three options. Select the ones you want: 

  • Enable Receipt Bot Extraction — Turn this on if you want Acxite to import already-extracted documents and data from Receipt Bot. When enabled, Acxite can link to your Receipt Bot data so past documents and extractions are available in Acxite. 
  • Submit VAT Return via MTD — Turn this on to allow Acxite to file VAT returns directly to HMRC using Making Tax Digital. Make sure your VAT details are entered correctly and that any HMRC authorisation requirements are completed where applicable. 
  • Submit Income Tax via MTD (ITSA)—Turn this on if you plan to file ITSA/self-assessment returns (for sole traders, landlords, etc.) through Acxite.  

Step 7 – After selecting the required settings, click Finish. 

Now, you are all set to upload documents, manage records, and prepare VAT or ITSA submissions within Acxite. 

Related Articles 

Frequently Asked Questions 

Why do I need to set up a business in Acxite? 

In Acxite, a business means any entity whose records you want to manage. This could be a company, a sole trader, a department, a partnership, or even a charity. You don’t need a registered business to get started. Adding accurate details helps Acxite apply the right VAT settings, classify documents correctly, and prepare your submissions without errors. 

Do I need VAT details for every business? 

No. VAT details are only needed if your business is based in the UK. In that case, Acxite will ask for VAT status, scheme, registration number, and period so your VAT returns can be filed under MTD. 

Can I enable Receipt Bot extraction without VAT submission? 

Yes. You can choose how you want to use Acxite. You can use it for document extraction, bookkeeping and VAT submissions.

What should I do if I see a “Name already taken” error when creating a business? 

The short name you enter must be unique, like an email ID. If it is already in use, simply try a different variation that is still easy to recognise. 

Can I change my business details later? 

Yes. You can update most business details, including VAT information and other settings, from the Business Settings page. The only thing you cannot change later is the short name. 

What happens if I select the wrong base currency? 

Make sure the base currency in Acxite matches the actual currency of your business. If it does not match, reports and VAT submissions may show incorrect figures. Always double-check before you finish setup.