David160
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Cost of Accounts Production software

Cost of Accounts Production software

We use Sage accounts Production to create our statutory accounts. We are coming up to renewal, and wondered what other Accountancy practices pay for their Accounts Production software. By the way, I am not considering bookkeeping software like Sage 50, but Accountancy practice statutory accounts production software. I was not considering comments about the quality of the software and support you receive, but please feel free to add these if you want to. To get things started, here are our details :-

Software company Sage
Which accounts production package used Accounts production standard
Cost for a year's licence (net of VAT) £1,221.00
Invoice date 13/12/2010
Maximum number of users running the software at the same time 3
Maximum number of clients on the software at any one time 325

What are your details?

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By Tosie
02nd Nov 2011 22:10

vt software

£199 no restrictions on companies/

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By Luke
02nd Nov 2011 22:40

VT final accounts as with Tosie

£199 no restrictions on companies but one user license.

I find it great and would definitely recommend.

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03rd Nov 2011 07:16

I swapped Sage for VT

I moved to VT just over 18 months ago because of the cost saving, and thought there would be compromises. There are none, and now wonder why I paid so much for Sage.

VT is quicker, easier, and saves endless time. I also never need to use the support therefore don't waste time listening to Sage explain how to do something that should be simple, but isn't. However, we used Accounts Production Advanced, so maybe that came with extra special built in complications.

The full cost of VT is on their website. They do not hide the cost, or mislead, unlike some software suppliers. Also, it is extremely simple to install & update the software.

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03rd Nov 2011 09:23

I'm a big VT fan too  - but surely its not the same offering as sage final accounts, which is a full nominal ledger system, whereas VT is just a crude ETB (I say crude because not all the individual accounts are represented).

EDIT: I agree producing final accounts in VT is a doddle though.

 

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03rd Nov 2011 09:37

VT and additional users

I am a big fan of VT as I have used it since starting my own practice and recemend it where possible.

A 3 user licence of VT would cost you £199 (plus 2 additional users @ £99 each) therefore lets say £400 for the first year, then it REDUCES to £300 plus vat, there after. Very good value for money.

For me money isn't the be all of why I like VT, othe reasons:

1) excel based. unlike IRIS and SAP, I am able to manipulate the notes very easy when the client does not fit into the traditional norm.

2) VT isn't a large software provider and therefore I believe they have small accountancy practices at the centre of their thinking.

3) I accept that they do not have certain templates (charity), but then again I do not need these. I had one LLP about 4 years ago and maniputalted the VT template. It took about a day but it was still a lot cheaper then another package and I learned a lot more about the finer points of LLP reporting than perhaps I would have.

4) Their updates are very good. I have never really encountered a bug from one of their updates, which I just cannot say the same for Sage.

5) Their IXBRL add on, again is reasonably simple. When I had an issue with it initially I telephoned their helpline and got straight through to someone who knew what they were talking about and guided me straight through. Very rare now a days.

6) I consider their approach to be honest. Where they are not interested in looking at a certain aspect (charity accounts) they are honest to admit it.

I am certainly an advicate of VT. One downside however about thier pricing plan, but I am sure that you would be able to enter into an agreement with them if this was the case. The licencing is 1 person (or 1 screen) 1 user. I used to work for a 50 person firm that had 20 user Iris working on a server basis. It worked because most of the time only 20 people used IRIS at any gioven time. I believe with VT you would beed 50 user licences, which could work outmore expenses. Again I may be wrong, and if it got to this I am sure VT would enter into a speciif agreement and again your starting point is that you only have 3 users so a long way to go.

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03rd Nov 2011 10:03

VT

Thanks for all the positive comments. We are happy to negotiate when users require large numbers of licenses. A single user is allowed to install the software on any number of PC's provided he/she is the only user.

Since yesterday, VT includes LLP templates!

@Zarathustra - if you use a linked entry workbook all the bookkeeping is stored in a VT Transaction+ file and you can do almost anything you want. A VTT+ file can easily hold hundreds of thousands of transactions. You can drill down from a cell in Excel and see full details of the entries making up the balance and even edit them or enter new transactions directly from Excel. Several accounts in VTT+ can be mapped to a single heading in Excel (eg Sundry debtors). The ETB based workbooks have the benefit of utter simplicity. You can use whichever is more appropriate for a job.

Philip Hodgson
VT Software

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03rd Nov 2011 10:12

Good news re: LLP templates

Another plus for VT final now.

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By AS
03rd Nov 2011 18:23

We use Caseware. I do not remember how much it cost to purchase but the annual cost is about £6k for about 35 users. Our requirements are different from the usual VT user as we have accounts production requirements for large groups, charities, pension schemes, trusts, LLPs, etc in addition to small companies. For this cost we also get an integrated electronic audit system and paperless working paper files.

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03rd Nov 2011 18:19

Csseware as well

Another vote for Caseware.

Although our reporting requirements aren't as high level as the last user, the data import facilities of Caseware are first rate, and the ability to construct paperless working files in a controlled structure is priceless.  I also feel that the quality of the printed output is first class.  It costs us about £200 per user and is worth every penny.

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By AS
Nigel Hawkes
03rd Nov 2011 18:42

Caseware

I agree with Cloudcounter's comments.

The quality of files and the time saving from well constructed paperless working papers means that Caseware pays for itself very quickly.

 

EDIT: One more point - Caseware is not easy to use like VT so there is a steep learning curve.

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By Flash Gordon
03rd Nov 2011 20:47

PTP to VT

I swapped from PTP to VT and kicked myself for having not swapped a lot sooner! And how many other software companies bother to keep an eye on AWeb and answer queries so quickly? The only one I can think of is Absolute. Have a play with it and see for yourself...

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27th Sep 2012 14:21

I am really interested in your comments about VT.

 

I am just starting my own practice and struggling on how to get the clients manual paper system into final accounts.  I know I need working papers but do I just create these in excel in whatever fotmat I think and then post them as a journal to VT final accounts?

Would appreciate any help and advice available.

Thanks.

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18th Feb 2013 10:42

Can be entered direct to VT software - either by bank posting - or by journal entries

 

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By Young
14th Jan 2016 14:51

vt

I tried vt but the final accounts looked like one sheet was not sure if I doing anything wrong so emailed for support and they sent the list of its features so I said not I was looking for and they said please read below will not be using someone who cannot be bothered to help!

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