TaxFiler - what software to use with it?

TaxFiler - what software to use with it?

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Hi guys,

I'm researching setting up my own practice and would like to automate as much as possible to speed up the general admin processes. For example, it would be useful if software auto-populated a 64-8 for new clients.

I note a lot of people recommend TaxFiler and having looked at TaxCalc and BTC, I agree that TaxFiler does seem a very good solution for someone starting out. Once I get a few more clients I would consider how it compares to the all-in-one solution from BTC which I found to be very good. At a previous Big Four I've used Digita and Alphatax but these are out of my price range.

What software do people use with TaxFiler? How do you get around the fact it won't mailmerge letters or create company secretary/64-8's/money laundering processes for you? I note BTC provides useful reports that predict next year's income and provides a pre-populated schedule which shows how much is due when? Does it automatically roll forward data such as losses carried forward, capital allowance year-end balances, etc? 

I also recognise a lot of people use VT for accounts production. It's probably the most recommended software I've seen on the site! I've looked at the demo but it feels very outdated. The UI looks like someone I would have used in the 90's! Does anyone have any good cloud based/user friendly solutions?

Thanks

Replies (4)

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Tamsin Mustafa
By Tasnim Mustafa
15th Feb 2015 20:06

GBooks

Try GBooks

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By ireallyshouldknowthisbut
16th Feb 2015 09:52

.

Re VT and Moneysoft too (same category) looks horrid, but works really well. Having said that VT does have some odd quirks such that is possible to send out accounts with missing line items if you don't refresh properly. I also had to spend some time customising the reports to get them looking how I like them. 

We are thinking of moving from Taxcalc (after over 10 years) onto TaxFiler as its less clunky and even with a 2 user liscence, cheaper too. 

I hadnt ever considered why my tax return software would deal with moneylaundering or letter writing or comp sec.  If you want one thing to do everything then you need to go integrated route, or go for the "best of breed" route and pick several supplies who do the best at their own niche.  There is no reason to pick taxcalc's clunky year end accounts software for example when you could use VT, the only plus would be pulling a couple of line items over which I guess is nice if you have to re-do the accounts but its no big deal to me. I would rather do that than have to press through dozens of entry screens to set the whole thing up. 

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By ShirleyM
16th Feb 2015 10:03

VT

Not the prettiest of interfaces, but the link between VTT+, VT Cashbook and VT Accounts, more than makes up for it.

Do you want software that 'looks good' but saps up lots of your time and money, or software that is the quickest and easiest on the market (and the best value for money)?

Only you can decide what is most important to you.

ps. if you want all singing and all dancing software that does absolutely everything you may want or need, then be prepared to spend money. Lots of it!

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By adam.arca
16th Feb 2015 12:42

Take a step back and decide how much....

...handholding you want from your software.

Currently it sounds like you want high end functionality for a low end price.

If you're used to all singing, all dancing software, then you'll find the more budget end of the market a big culture shock. Also, there is a good argument for saying that you should start as you mean to go on and, if you're used to the likes of IRIS and are aiming to have a clientbase which can justify that investment, then go for that; on the other hand, perhaps the best single piece of advice I was ever given was not to over-spec when I started up: you really don't need everything you think you need or were used to using when somebody else was paying.

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