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VT accounts for limited company with two trades

Hi guys/girls,

Could anyone tell me if it's possible in VT accounts to account for my Company which will have two distinct trades

1 - Group finance contracting

2 - Sole practitioner accounting firm

I would like to keep management records to show the profit and loss from each trade and then combine in final accounts to make one set of stats for companies house.

What is then the process for tax returns to HMRC is there just one CT600 or do you need to submit two returns and if so how is this achieved?

Thanks very much for any help I have just downloaded the Vt accounts and taxcalc trials based on recommendations from this site but am finding it hard to solve the above problem using the help tool

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07th Mar 2011 21:14

Try departments

 

VT T+ uses departments to do this for P&L accounts only (AFAIK). From the menu:
   Setup --> Currencies, Department and Lists --> Departments...
Set up two departments and when you are posting to P&L accounts, you will find an additional posting box.

One company = One CT600. Profits shown in the relevant boxes for schedules/cases as for any other business.

HTH

 

 

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