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HMRC Book-keeping

I learned on another site that HMRC have today issued accounting software for use by start-ups.

 I haven't been able to find it, but I did find this: (Apparently an HMRC site)

http://nds.coi.gov.uk/clientmicrosite/Content/Detail.aspx?ClientId=257&NewsAreaId=2&ReleaseID=418174&SubjectId=36

which links to Business Link:

(Recommended software?)

http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073860617&furlname=recordkeeping&furlparam=recordkeeping&ref=http%3A//nds.coi.gov.uk/clientmicrosite/Content/Detail.aspx%3FClientId%3D257%26NewsAreaId%3D2%26ReleaseID%3D418174%26SubjectId%3D36&domain=www.businesslink.gov.uk

And I have to ask other contributors, would you be happy if your clients started using this method of B/K?

I always try and get clients to  keep cash and cheques as far apart as possible (sometimes in different Counties) and the thought of combining them on one page with credit and debit card payments horrifies me.

Should they have asked some accountants before producing this?

(I'll keep looking for the HMRC software and report back)

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Depends

If HMRC impose a format for filing documents with HMRC that is never used by small businesses then the cost of adopting such alien software / file format should be wholly borne by HMRC.

Specifically I refer to iXBRL for CT filing - absolute and utter garbage of zero (yes I mean zero) benefit to small businesses - just imposing more costs on small business and their advisors. {don't anyone mention the so-called benefit of joint filing with Companies House - hardly any financial saving at all}.

As for bookkeeping, no problems here if what HMRC provide is helpful to small businesses - excellent to have an alternative to Sage!

I appreciate there's potentially an issue of "unfair competition" something for free undermining something that's charged for by commercial organisations.  I have limited experience of commercial organisations' offerrings of bookkeeping software, ie. mainly SAGE which I hate - on this basis roll on a free alternative!

 

 

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Understandable

I couldn't spot any free software where is it?

However looking at the accounting advice there are many small business owners who'll curl up into a dark corner after reading the businesslink advice. It starts off fairly simply but looking at e.g. hints and tips 'reconcile', would a non-booker even know what this means?

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