Is anyone else finding that Quickbooks and their advertising policy of the last year or so (ramped up more recently) is creating real problems for businesses and their financial admin.
I have used Quickbooks in its various guises for over 15 years, but I am really getting worried about the records QBO users are producing when they don’t have support and follow the adverts of 'Don’t worry! “Thanks teeny, tiny hardnosed QB people!”
The experiences I am having are showing that QBO users are at high risk if they are selected for investigation in a way I can only compare to the loan schemes cases that are costing taxpayers thousands in penalties and interest.
I’ll give a couple of examples:
Quickbooks says not to worry about payroll.
The employer hadn’t submitted the EPSs because Standard payroll doesn’t do it automatically so hadn’t recovered SMP etc correctly so were being chased for debts. They hadn’t realised all the rules behind NLW so had been underpaying and hadn’t followed any Workplace pension rules because they had heard it wasn’t appropriate for them.
Client had been producing sales invoices and then making the most of the Banking functionality. Quickbooks suggests ‘Sales’ so they click accept, it suggests rules for wages and salaries, but doesn’t match that off against the payroll journal meaning that the bank looks reconciled but debtors and creditors (including payroll related) are doubled!
Latest one today. I just need a tax return produced, please. Ok, so you’re self employed, will you be providing your accounts and the breakdown of debtors/creditors/depreciation/disallowed expenses, expenses eligible for AIA and FYAs?
“What? I use Quickbooks so its all done isn’t it?” The business expense sections clearly include personal transactions, include fully some personal expenses that should at least be aportioned and there are again duplicates where they have been using the banking tab.
If I’m honest, HMRC have got an open goal! Pick all businesses with turnover under eg £50k and without an agent on file.
That’s not how its meant to be. Software should be supporting the business owner and not put them at risks like this.
I just wondered if anyone else has had the same experiences or if I have just been unlucky?