MTD Software for VAT ..... plus?

[DefyG]

Looking (at the 11th hour) into MTD software.

Has anyone any recommendations (for small business upto 10 employees - if size matters!) or more importantly the pitfalls of a particular software?

Cheers

 

[Top Cat]

Have been using Quickbooks for years now and no problems.

 

[DefyG]

Thanks TC,

Think everyone else is a bit shy as to what they are using!

 

[Charlie_]

I’m still using QuickBooks Pro 2006.
Have it set up on a windows vista os, too tight to upgrade and start paying a monthly subscription

 

[Octopus]

Not people being shy ............ MTD is only relevant to people who are VAT registered and many on here aren't ...........

 

[DefyG]

I’m still using QuickBooks Pro 2006

Thanks Charlie, not sure if the 2006 version is MTD compatible but seems many (small businesses) are going the quickbooks (latest edition) route!
Bit over whelming looking on the HMRC website at the number of MTD approved software that is available!

VAT registered and many on here aren't ...........

Find it hard to believe that even a sole trader can keep under the £85k limit these days!

 

[Octopus]

Find it hard to believe that even a sole trader can keep under the £85k limit these days!

Easy!

I suspect a lot of people are way under this limit too.

 

[BrendonP]

I have just started using Quickbooks online since feb this year. Im finding it great and the apps are good.
The best thing i have found with quickbooks has to be the outstanding customer support. They will help you set it up and answer any questions and show you how to do the dits your stuck on. I am very impressed with them. ( and no they haven't paid me )

As a note on MTD i believe it is extending to all business (not just vat registered) including self employed, freelance, sole trader etc

 

[Deleted member 105166]

Sage and other providers want to use MTD to force people onto their 'pay monthly' cloud based software. Reality is for us and probably most small businesses, this will just add cost and no benefit, which is why we won't be going there! (Our Sage version is five years old)

This video seems to explain simply what is and isn't acceptable in terms of Excel submissions.

After watching it, as an exercise, I exported our last Sage VAT return to a two tab excel file (detail and summary) and replaced the text output with formula, then replaced the box 1-9 text output on the 'summary' tab with calculations pulling the respective values in from the 'detail' tab. I added a check formula for boxes 1-9 to confirm 0 variance between my formula and the initial Sage data. It took about 10 minutes to make an MTD compliant Excel file.

 

[Aurai]

Sage 50 Accounts, does make it entirely painless as far as I am concerned. While Sage certify the software is compliant though you also have to register through Government Gateway and time is running out. Regards

 

[andyb]

I use Kashflow for £15.00/month linked to Receipt Bank for saving my invoiced digitally.
Very happy with it.

 

[Nigel]

I use my bookkeeper and accountant.