Just looking at monthly procedures for importing sales figures from our EPOS system, and am considering journalling in a full month at once for certain sales figures.
Is this MTD compliant, or does it need to be daily sales?
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The correct way is to do daily sales figures. The system we use for our clients dose this automatically into Xero.
Technically you can’t manually post a journal. You should export the sales info to Excel, formulate the numbers, cut&paste to another Excel and import that journal. Technically, but who can be ar5ed. We post journals daily, not for MTD but so it makes PDQ etc reconciliations easier.
That depends whether there is automatic mapping or not.
In general, however, all the data needs to be transferred by whatever mechanism before the return is submitted. Hence it does not have to be done every day, but it does need to have digital links back to the daily sales figures.
Agreed, I've outlined the legislation before, interacted with the VAT notices, and came to the conclusion that the VAT calculations should be done quarterly.
why is it not possible from the epos/till, to do a daily batchup -automated fromthe epso? may take an it bod to map and setup, but the accounting system will handle ?
automated & not cut+ paste - just check the daily batch. so far easier especially with multi sites...