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Software options versus bridging software

MTD

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So, I have a client buying a nightclub and as well as the usual worries of ltd co vs sole traer/partnerships etc, I am thinking about what software package I should use.  Dare I say thinking about.  I have been up all night looking at all of them!  Presently, the seller’s VAT returns are completed via an excel linking sheet for each of 10 tills using the  iferror(Vllookup.) function.

  I am familiar with this but I think I would prefer to use index and match function. However,  it is going to be difficult to teach this to the client.  Of course, i can use bridging software from Absolute and it does look pretty painless after watching the video.

However, (again) I have been reading all the threads surrounding a previous question  ‘Is bridging software the answer for MTD’  and there was a very thoughtful reply from Louise Munro I think, as follows and which I have re-read several times.

‘The HMRC webinar last week clearly pointed out that the bridging software is only going to be acceptable for one year. We looked at this as an option but decided against it purely on needing to bite the bullet. We have got the MTD system working and submitting eventually - just now working through clients one by one to see which options for software they want to go for.’

So now I am not sure what to do???  I don’t think I want a sticking plaster option for 1 yr only and I am not going to base such an important decision on price-rather what is best for the client in terms of ease of operation for the timely production of VAT returns/bookkeeping/payroll perhaps (I currently use Moneysoft which I like) and eventually, financial accounts (quarterly management figures would be a plus.)

What do colleagues think?  I value any advice I can get and apologise for the length of question.  Thank you to all.

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By DaveyJonesLocker
07th Mar 2019 12:43

That comment from Louise is totally incorrect, the webinar said nothing of the sort. It's an urban myth.

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By VitalTax
07th Mar 2019 12:44

HMRC has approved Excel as an acceptable solution for keeping digital records. There are no any indications that this HMRC position will be changed any time in the future. As long as Excel is acceptable there will be always a requirement for bridging solutions.

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