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VT Accounts

VT Accounts

There is a lot of praise for VT accounts on this website and having briefly tried it out I can agree it seems good value for the price.

I wondered if existing users think there is any limit in terms of the turnover or complexity of a business where one of the more expensive pieces of accounts production software would be more appropriate? Or could VT be used for any size of business?

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22nd Apr 2013 09:29

Size doesn't matter really

We've been using VT book-keeping and VT accounts for probably 10 years or more and have to say that it has easily coped with whatever we've thrown at it.  Most of our clients are small businesses, sole traders & partnerships, one man limited companies, etc., which we do on auto-pilot with VT.  We've also had a few statutory audit jobs, which again, VT handles admirably.  We have a few clients with turnover over £1m, with more complexity, and again, we have no issues with VT at all.  In fact, In those ten years, I don't think I've ever had to phone or email their support for anything!

We use VT accounts in conjunction with VT+ transaction for an underlying nominal ledger for all but the simplest of jobs where we just use the trial balance input.  VT+ is a brilliant and easy bit of nominal ledger software which gives us a full audit trail of the adjustments we make between the client records and the final accounts, and even better where the client using VT+ as their book-keeping software as all we need to do is a few year end journals, and then the accounts pop out automatically via VT accounts.

I can't imagine moving to a different accounts preparation software.  VT would have to do something really stupid for that to happen - such as hiking the price or selling out to Sage or Iris!!!

 

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to charlotte_mason
22nd Apr 2013 09:46

MY worst nightmare!

Ken Howard wrote:

 VT would have to do something really stupid for that to happen - such as hiking the price or selling out to Sage or Iris!!!

Any whiff of that and I would be off so fast...........................

Once bitten, twice shy and all that.

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22nd Apr 2013 09:48

I agree totally

110% with Ken. Ken did miss one point in the 10 + years we have been using it the price has not moved.

 

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22nd Apr 2013 11:26

VT
Only one thing I can say after using VT for nearly 10 years......... God Send!!!!

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22nd Apr 2013 11:31

It doesnt do multi-user access so I guess that will be a stumbling block if you got to such a level of transactions that you needed multiple people entering/creating them.  But other than that it pretty much does most things really.

Not sure if there is a limit on the number of transactions or if it starts to slow down once a certain number is hit but Ive never noticed it plus it would take some slowing down to be as slow as s*ge anyway!

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26th Apr 2013 16:14

Very few limits

First I would sing it praises as long and as loud as I possibly could.

With staff to manage I have no hesitation allowing them to go ahead with most things as I know I can easily amend anything they've not got quite right without my clients seeing a terrible audit trail. However, you do need to keep an eye on things because the system is so so flexible that staff do have the ability to undo many things and you wouldn't notice and can't trace what has been undone without access to old versions of backups.

The limit of only one user having access can potentially be overcome in some circumstances. Every single transaction is basically a journal. The SIN, SCR, PIN, PRC TFR, PAY, REC etc are all just references really and every single one of them can be done by a journal entry. The system will import a trial balance but again this is simply a journal entry. Using these simple facts you can see how it is possible to import most entries, although some would need further work within the system to match against other entries etc. This will allow individuals to make their entries in an Excel worksheet for import while one other uses the VT system and therefore you can have multiple users - at a push!

Another limit is that you can't reprint supplier remittance advices. You need to delete the payment (if not already reconciled to the bank) and re-pay.

You don't seem to be able to enter a sales invoice that is outside the scope of VAT but can alter it once entered.

There is the option of seeing a P&L by department but not of producing a report of the detail of the P&L by department without a lot of manipulation within Excel.

Another limit is that it doesn't work on a Mac - no problem there for me.

All in all most limitation can be worked around - the multi-user one being the largest limitation and there is no plan to change this I believe.

 

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26th Apr 2013 16:58

They must be a target for acquisition ....

given their profile on AWEB if nothing else. My other favourite independent (Accounting Websmiths) was recent eaten up by IRIS but so far there have been no changes that I am aware of. After 13 years as a VT customer I am aware that I have had the very best product at the best price with service that is second to none. There you go ...jinxed well and truly now!!

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23rd Feb 2014 14:56

VT bookkeeping
Could anyone tell me if you can amend transactions on VT like you can on sage using corrections? E.g.correct date or nominal code? Iris bookkeeping won't let me amend anything, you have to process the opposite transaction, and iris has a peculiar batching system. Don't want to be caught out again!

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