accounts production | AccountingWEB

accounts production

Just moved from VT after years of using my own excel spreadsheet accounts production formats.

I have only been using VT for three weeks but it seems to take for ever, am I being too impatient ?

I start with the accounts production and get all my balances in (ex PY Balance Sheet)and then I enter clients transactions into VT transactions. I then import the trial balance to accounts.


I had a problem with one client over opening balance on Profit and Loss for a ltd co client. took me ages to realise that I had entered into the notes as well as etb.

Is this the best way of working any advice or comments gratefully received.?

Many thanks



mr. mischief's picture

give it time

mr. mischief | | Permalink

Like any system it takes time to learn.  One thing which might take you extra time is a line - either balance sheet or P&L - which you want in the accounts, but is not in the standard format.  Look at the bottom of the TB area to see the row numbers.  Then go into the accounts schedule and add in the lines you want, using those numbers in the formulae.

I find VT to be miles faster for the purpose than Sage, SAP or any other off the shelf system I've used.


Agreed Give It Time

martynover | | Permalink

Have you tried using  VT Final Accounts as an ETB. Either use the Adjustment Button on Tool Bar this will add as many columns as you wish then post entries into these columns . Or post Journals direct to VT Final Accounts using the JRN Buttons also on the tool bar, each journal will add a column to you TB.

Inserting new rows is quite straightforward. Go to Detailed P & L2 or Notes for Balance Sheet entries. Click row below where you want new heading, click Insert Financial Row Button on tool bar, box will come up, type in your description, click OK and you have a new heading, also this inserts heading in the TB.

Using VT T+ for client transactions...

SSmithCA | | Permalink

This might well be where it's taking you too much time. If the client has produced perfectly adequate excel or manual records (or Sage etc), just enter the closing TB into VT final accounts manually. As previously suggested, if a few journals are needed, use the extended TB option in final accounts and this method also works if the client has produced a cashbook and you need to first post the bank, followed by journals to post the balance sheet transactions.

VT final accounts really is very, very good and once you get to know it you'll love it.


Only use VT Transaction+ if you have lots of transactions to pro

vtsoftware | | Permalink

Since the March 2009 edition lots of bookkeeping features were built into manual entry workbooks. Hence you should only use VT Transaction+ if you have day to day transactions to process. Just using VT Transaction+ to process a trial balance or a few summaries adds an unnecessary layer of complexity. The help topics contain the following paragraphs:

In the manual entry method, there is a TB sheet in the template with current year and comparative columns where the numbers can be entered. This simple TB can also be turned into an extended trial balance by clicking on the Insert Trial Balance Adjustment Column button on the VT toolbar. A new row in the printable part of the accounts can be created and connected to a new row in the trial balance by clicking on the Insert Financial Row button. Simple formulas link the printable part of the accounts to the trial balance.

In the templates supplied, there is usually a one to one correspondence between the lines in the printable parts of the accounts and the lines in the TB sheet.

Since the March 2009 edition of VT Final Accounts, there are also buttons at the right-hand end of the VT toolbar for the following:

· importing an opening trial balance from another accounts package via a CSV file 

· entering an adjustment or journal into the extended trial balance using a journal dialog 

· displaying and printing various reports derived from the extended trial balance 

The dialogs and reports used for the above features are actually the same ones found in VT Transaction+. You can edit any journal or amount by clicking on it with the right mouse button in a report, just as you can in VT Transaction+

Apart from these features being more convenient to use, it is now practical to have a far larger number of journals than was previously possible in a manual entry workbook. You can now do some quite serious bookkeeping in a manual entry workbook whereas before you would have to have used VT Transaction+. The total number of journals is limited by the number of columns available in an Excel spreadsheet (256 in Excel 2003 or earlier; 16,384 in Excel 2007 or later). However, the journal and report dialogs may load noticeably more slowly if you have more than say 500 hundred journals.

If you have done a lot of bookkeeping in a manual entry workbook and then realise you need to use the standalone version of VT Transaction+, there is an option on the VT Bookkeeping menu in Excel to convert the extended trial balance to a VT Transaction+ file.

thank you

Tosie | | Permalink

many thanks for the replies and very helpful comments all of which I will try.

I suppose I am just being stupid starting to use a new package and thinking that I could learn to use it correctly

in five minutes.(fools rush in etc)

Again many thanks it is good to have support.

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