Importing Spreadsheets to VT

Considering it for MTD

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I have a client who has around 2200 sales transactions a month.  Until now, I've entered these as a monthly total on to VT but, as MTDfV approaches, I'm considering importing the client's spreadsheet, which is something I've never done - mainly due to the lack of clients with their own spreadsheets.  The VAT is on a cash basis.

Does anyone have any tips - or potential pitfalls that I might encounter in getting the client to format his spreadsheet correctly ?

Replies (16)

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By bernard michael
30th Jan 2018 15:35

Why not wait until MTD is confirmed in it's impact, timing and effect

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Replying to bernard michael:
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By lionofludesch
30th Jan 2018 16:31

bernard michael wrote:

Why not wait until MTD is confirmed in it's impact, timing and effect

Good question - but several reasons

1. I think it might well be a useful skill to acquire anyway

2. I want to practise it before it becomes mandatory

3. We might not know what the criteria are until very late in the day

4. I may need to get the client to modify the way he keeps his spreadsheets.

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By Matrix
30th Jan 2018 16:45

Do you mean using the Universal Input Sheet?

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By lionofludesch
30th Jan 2018 17:03

Yes - importing records a client has kept, rather than compiling the sheet myself.

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Replying to lionofludesch:
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By Matrix
30th Jan 2018 17:16

Well if you are familiar with the sheet then the batch input should be fine. Just decide what columns you will need from the client.

I import all a client's sales in this way from the bank account, make sure you choose the correct ledger account and populate the VAT column.

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By Ken Howard
30th Jan 2018 19:42

Can I just check that you realise VT announced they won't be updating VT with MTD functionality?

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Replying to Ken Howard:
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By Wanderer
30th Jan 2018 20:58

Yes, but a link has been posted in recent discussions to a tool which will allow us all to file output from VT into HMRC MTD.

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By mfwiniberg
01st Feb 2018 10:43

That's interesting - I've been wondering what I might replace VT with, but if there's a way to keep it going then that would be good, even if only as a stop-gap until things settle down. After all, all new government schemes always work perfectly first time, straight out of the box, don't they?

Any chance of a pointer to this link?

Thanks.

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By Wanderer
01st Feb 2018 10:52

mfwiniberg wrote:

Any chance of a pointer to this link?


http://www.neilsonjamestech.co.uk/
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By lionofludesch
01st Feb 2018 16:08

Wanderer wrote:

mfwiniberg wrote:

Any chance of a pointer to this link?

http://www.neilsonjamestech.co.uk/

Note that this, in itself, won't be good enough, as the records are on Excel.

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Replying to Wanderer:
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By legerman
01st Feb 2018 11:05

Wanderer wrote:

Yes, but a link has been posted in recent discussions to a tool which will allow us all to file output from VT into HMRC MTD.

It's not guaranteed that the tool will have that functionality, although the author has said he will certainly look at being able to do so, once HMRC have laid down the criteria for the software vendors.

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By lionofludesch
01st Feb 2018 16:06

Nothing's guaranteed.

Including MTD starting on time, as advertised.

Let's not throw any more uncertainty into the mix than we already have. We can only work with what we know, which is FA, really.

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By chatman
01st Feb 2018 20:38

Can't you give him a correctly formatted template to use?

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By lionofludesch
02nd Feb 2018 09:45

Hope so, chatman.

Hence my request for tips and pitfalls to avoid.

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Replying to lionofludesch:
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By chatman
02nd Feb 2018 10:41

That's what I do. I'll send you a copy of one I use if you like. DM me if you want it.

The only thing I can't seem to import is to say an invoice is a sale of EU goods, so I amend them manually after the import.

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By lionofludesch
04th Feb 2018 09:54

Thanks chatman.

Just what I'm after.

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