Everyone seems to have their own view on software. I have I think 7 VAT clients on Sage and they take quite a time to input but my fee is larger! My other VAT clients are on good old spreadsheets and uploaded using Taxfiler. I like this!
For MDT IT my clients will not want to do any bookkeeping especially using software. I personally prefer to use spreadsheets and use bridging software to send it in.
If clients have say Quickbooks or Xero etc they will [***] it up and I will spend time trying to uncock it - I just haven't got the time. The client will not want to pay for putting it right either.
Can't I just download their bank (as a spreadsheet monthly) and get the client to send me credit card statements monthly if applicable and dissuade them from making cash transactions or get clients to list cash. No doubt some adjustments will be required for Q5 which needs to be correct!
If I prepare accounts using spreadsheets in the main it seems better to use spreadsheets for MTD IT?
I have read all the replies to my original question about software. I am now thinking that spreadsheets and bridging software are the answer.
The accounting software is too onerous and I think if I am going to have to do the inputting it will take too long.
So I am thinking of just doing basic accounts (no accruals/depreciation) on spreadsheet(s) 4 times a year with adjustments for the 5th upload which has to be right.
I also understand that my VAT clients with non March quarter ends need to upload 9 times a year so that's another thing to sort out before 2023.
So in short I am continuing to produce accounts as normal but 4 times more a year and I will need to also adhere to HMRC requirements re the details they require on VAT rate on sales etc.
The whole thing is an imposition but I hope to be more rich because of it.
I have read all the replies to my original question about software. I am now thinking that spreadsheets and bridging software are the answer.
The accounting software is too onerous and I think if I am going to have to do the inputting it will take too long.
So I am thinking of just doing basic accounts (no accruals/depreciation) on spreadsheet(s) 4 times a year with adjustments for the 5th upload which has to be right.
I also understand that my VAT clients with non March quarter ends need to upload 9 times a year so that's another thing to sort out before 2023.
So in short I am continuing to produce accounts as normal but 4 times more a year and I will need to also adhere to HMRC requirements re the details they require on VAT rate on sales etc.
The whole thing is an imposition but I hope to be more rich because of it.
I understand your point of view. I think I will contact my clients and tell them what is going to happen in 2023 and explain how much it might cost them if I do it for them .
Maybe they will say they cant or dont want to and let me do it at extra cost or they may have a go and then decide they want me to do it. Hopefully some will have a go and be successful but I fear thats the minority!
I understand your point of view. I think I will contact my clients and tell them what is going to happen in 2023 and explain how much it might cost them if I do it for them .
Maybe they will say they cant or dont want to and let me do it at extra cost or they may have a go and then decide they want me to do it. Hopefully some will have a go and be successful but I fear thats the minority!
I understand your point of view. I think I will contact my clients and tell them what is going to happen in 2023 and explain how much it might cost them if I do it for them .
Maybe they will say they cant or dont want to and let me do it at extra cost or they may have a go and then decide they want me to do it. Hopefully some will have a go and be successful but I fear thats the minority!
Yes I agree. It needs to be done monthly but I dont want to do monthly management accounts for 100 clients. Also I don't want to make it all up but there willl be some estimation/botching required.
I suppose the subcontractors will send in 3 months certs and we make the rest up, the hairdressers, gardeners and very small traders can send in rough figures and we just send them in - no harm done. I suppose the rest will need to be done as well as we can in the time given or get the client to do some (they will need persuading).
I think we maybe need two months to send the info in. As with everything these day its speed rather than quality. Lets hope will still have enough time to get the 5th quarter right.
Yes I agree sending in tosh would be easier but I think I would prefer to send in the best I can with the tosh at hand. Its the time constraint that worries me.
This VAT quarter is a lot of work for me - another 100 clients tosh on top is worrying.
My answers
Maybe quarterly tax returns are the answer if they gave us 6 months to send them in.
Everyone seems to have their own view on software. I have I think 7 VAT clients on Sage and they take quite a time to input but my fee is larger! My other VAT clients are on good old spreadsheets and uploaded using Taxfiler. I like this!
For MDT IT my clients will not want to do any bookkeeping especially using software. I personally prefer to use spreadsheets and use bridging software to send it in.
If clients have say Quickbooks or Xero etc they will [***] it up and I will spend time trying to uncock it - I just haven't got the time. The client will not want to pay for putting it right either.
Can't I just download their bank (as a spreadsheet monthly) and get the client to send me credit card statements monthly if applicable and dissuade them from making cash transactions or get clients to list cash. No doubt some adjustments will be required for Q5 which needs to be correct!
If I prepare accounts using spreadsheets in the main it seems better to use spreadsheets for MTD IT?
I have read all the replies to my original question about software. I am now thinking that spreadsheets and bridging software are the answer.
The accounting software is too onerous and I think if I am going to have to do the inputting it will take too long.
So I am thinking of just doing basic accounts (no accruals/depreciation) on spreadsheet(s) 4 times a year with adjustments for the 5th upload which has to be right.
I also understand that my VAT clients with non March quarter ends need to upload 9 times a year so that's another thing to sort out before 2023.
So in short I am continuing to produce accounts as normal but 4 times more a year and I will need to also adhere to HMRC requirements re the details they require on VAT rate on sales etc.
The whole thing is an imposition but I hope to be more rich because of it.
I have read all the replies to my original question about software. I am now thinking that spreadsheets and bridging software are the answer.
The accounting software is too onerous and I think if I am going to have to do the inputting it will take too long.
So I am thinking of just doing basic accounts (no accruals/depreciation) on spreadsheet(s) 4 times a year with adjustments for the 5th upload which has to be right.
I also understand that my VAT clients with non March quarter ends need to upload 9 times a year so that's another thing to sort out before 2023.
So in short I am continuing to produce accounts as normal but 4 times more a year and I will need to also adhere to HMRC requirements re the details they require on VAT rate on sales etc.
The whole thing is an imposition but I hope to be more rich because of it.
I understand your point of view. I think I will contact my clients and tell them what is going to happen in 2023 and explain how much it might cost them if I do it for them .
Maybe they will say they cant or dont want to and let me do it at extra cost or they may have a go and then decide they want me to do it. Hopefully some will have a go and be successful but I fear thats the minority!
I understand your point of view. I think I will contact my clients and tell them what is going to happen in 2023 and explain how much it might cost them if I do it for them .
Maybe they will say they cant or dont want to and let me do it at extra cost or they may have a go and then decide they want me to do it. Hopefully some will have a go and be successful but I fear thats the minority!
I understand your point of view. I think I will contact my clients and tell them what is going to happen in 2023 and explain how much it might cost them if I do it for them .
Maybe they will say they cant or dont want to and let me do it at extra cost or they may have a go and then decide they want me to do it. Hopefully some will have a go and be successful but I fear thats the minority!
Yes I agree. It needs to be done monthly but I dont want to do monthly management accounts for 100 clients. Also I don't want to make it all up but there willl be some estimation/botching required.
I suppose the subcontractors will send in 3 months certs and we make the rest up, the hairdressers, gardeners and very small traders can send in rough figures and we just send them in - no harm done. I suppose the rest will need to be done as well as we can in the time given or get the client to do some (they will need persuading).
I think we maybe need two months to send the info in. As with everything these day its speed rather than quality. Lets hope will still have enough time to get the 5th quarter right.
Yes I agree sending in tosh would be easier but I think I would prefer to send in the best I can with the tosh at hand. Its the time constraint that worries me.
This VAT quarter is a lot of work for me - another 100 clients tosh on top is worrying.
Yes I am glad I asked this question. I am getting different views of what to do.
I would have thought the quarterly upload would have to be a good attempt - I realise it won't be perfect.
Obviously HMRC will not have the time or the manpower to do anything about botching it. The whole things seems a bit of a waste of time.