How to be MTD-compliant if you’re not on the cloud
With just days to go until the first VAT filings are due until MTD, you need to act fast. But what are your possibilities if your accounting software is not cloud-based?
MTD for VAT is just a week away. There is not just one approach when it comes to preparing your practice and clients, but there are a few common steps that you will need to follow.
First of all, you need to inform all clients about their new obligations, including submitting VAT returns using the new MTD service and maintaining digital records.
You need to consider who will be affected and list out the clients who will need to do things differently. How many ‘shoe box’ clients do you have? And what would it take to teach them how to use a new solution in terms of time and resources?
You need to consider not just this, but you will also need to think about the consequences in the long term and whether it makes sense to put in more effort into teaching them how to use a cloud solution in order to save time and effort in the future.
You’ll also need to decide what services you will provide and your fees for each approach. This requires some planning, so you should do it now if you haven’t already.
If you decide that you would keep on using spreadsheets, you can still find software that will enable you to be MTD-compliant.
There are different options of bridging software that you can use if you or your clients have always used spreadsheets to file accounts and you don’t want to move to the cloud just yet.
Consider choosing a simple cloud solution for clients
Whereas bridging software can help you in the short term, you should consider the advantages that the cloud can bring you and your clients in terms of workflow streamlining, automation and time saving.
If you are still unsure about moving to the cloud, we have good news for you: changing your systems doesn’t have to be complicated.
Zoho Books is a simple cloud solution that you and your small business clients can easily learn how to use. And whatever your concerns are, we are here to answer all your questions and help you throughout the whole process.
Our friendly UK support team is available to help you via email, phone or chat and you are also always welcome to join the discussions in our Zoho Books Forum.
Would you like to know more?
In our latest webinar with AccountingWEB we covered this topic, including choosing bridging software and simple cloud solutions and a simple checklist of what to do in the remaining few weeks before MTD for VAT.