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Managing VAT online

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  • Managing VAT online

    I need to find a good accounting package that works well for a 7000 item pharmacy - that is easy to use and is ready for 2019.

    From April 2019 all VAT registered businesses must use some form of accounting system that connects to HMRC via an online API - ie some programmatic interconnection between the accounting software and HMRC - We won't be entering the vat calcs into the HMRC web page any more.

    When we purchased our biz in 2012 I looked at various accounting packages, but could not find one which could handle zero, five and 20% vat in the same monthly payment. The helpful person at Sage suggested that I would need to input each invoice separately - yeh right, that's 450 invoices a month...

    My solution was a spreadsheet that I cut and paste in the months bank transactions, and used a lookup table to work out the vat on each invoice, that left we having to then manually go through spready and input the correct VAT for the pharmacy wholesalers statements. Still pretty time consuming but straight forward.

    Now it seems my trusted spready is doomed , Anybody got a good solution?

    Pete


  • #2
    Go on the HMRC website and they will tell you about providers that the recognise.

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    • #3
      I used Sage small business that my pharmacist accountant specialist set up. Took me about 3 hours month and end result was the VAT report to submit. Message me if you want their details.

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      • #4
        There are some Excel Add Ins that allow posting of tax data to HMRC that may work within your spreadsheet.
        [I]Nice information. I like your information very much. It is a perfect information that clears all my doubts and gives a clear idea regarding that. It is really advantageous for me.I would definably take the benefit of it.[/I]

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