- Location
- North Notts
What's the best software to go for ready for the vat changes next year nobody seems to have any answer despite it starting from April ready or not.
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Yes it's all going the same way, Xero was one our account recommended thanks.Most here seem to recommend Xero, no knowledge of it myself. Looks like self employed income tax will have to be submitted on MTD approved software as well in due course from what I've just read.
We use xero , I scan and or just attach every invoice to each purchase entry, most are now emailed to me anyway and I then reconcile them against bank account as the account details come through every day automatically its a piece of cake to do very simple to use and find your way around , your accountant should be able to set it up for you to suit your business.
At the VAT quarter accountant just has to press button to create vat report, rarely even get a query about anything from them as its all there online I could do it myself I'm sure but handy to have accountants back up , and they do our payroll for us also.
Your accountant is likely to be doing less work so make sure you get a discount on what your yearly fees would be for paper records and that they pay your xero costs.
I set up file on my pc desktop called "invoice to post " so when an email comes in with a pdf invoice attached i save it to that file so they are handy for when I uploaded to xero then I move them to vat quarter file but you could just delete them.
I'm far from a expert on any business software but can honestly say using xero has been pretty pain free and considering "Bookkeeping etc" was all new to me its been way easier then i thought it would be.
Thank you for that, the accountant has already mentioned there input in the future will be decreasing. They also said that only 40% of there clients are up to speed on the upcoming changes.We use xero , I scan and or just attach every invoice to each purchase entry, most are now emailed to me anyway and I then reconcile them against bank account as the account details come through every day automatically its a piece of cake to do very simple to use and find your way around , your accountant should be able to set it up for you to suit your business.
At the VAT quarter accountant just has to press button to create vat report, rarely even get a query about anything from them as its all there online I could do it myself I'm sure but handy to have accountants back up , and they do our payroll for us also.
Your accountant is likely to be doing less work so make sure you get a discount on what your yearly fees would be for paper records and that they pay your xero costs.
I set up file on my pc desktop called "invoice to post " so when an email comes in with a pdf invoice attached i save it to that file so they are handy for when I uploaded to xero then I move them to vat quarter file but you could just delete them.
I'm far from a expert on any business software but can honestly say using xero has been pretty pain free and considering "Bookkeeping etc" was all new to me its been way easier then i thought it would be.
You do realise you can email the invoices into Xero?
I find if you rename a pdf before emailing to xero it gets rejected, so you have to rename it in xeros inbox
Do you have any evidence of this?Turnover of £85k+ its compulsory. Will be rolled out to under that threshold in due course.
Do you have any evidence of this?