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MTD and reporting daily sales

MTD and reporting daily sales

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I have several retail clients who I do the bookkeeping for and up until now we have entered Daily Card Sales and Daily Cash sales into the software as totals for each day - a total od Card Sales for each day and a total of Cash Sales for each day.

Can we still do that under MTD or will we be obliged to enter up every single sale, every day however small that sale?

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By BIGWAL
25th Mar 2019 17:04

Having only today attended an event at which HMRC also provided a speaker it is clear that reporting daily total of sales is suficient. It is not necessary to report each individual sale for MTD.

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25th Mar 2019 19:35

As noted above -there is only a requirement for one total for the daily sales. We normally combine cash and card sales daily but this depends on each retailer's till software and what reports it can produce.

You may already do this but one issue we were advised on was to ensure that the zero rated and standard rated sales were split out daily - rather than combining one daily net and VAT figure (with no split between zero and standard). Again this depends on how good the till reports are.

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to Alwaysreading
02nd Apr 2019 16:04

I don't think there's a requirement to break down per payment type, but there is per VAT treatment, would need to do daily totals for all relevant VAT rates :)

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