Accounting Software for MTD

[awemawson]

For years I've been using an owned copy of Sage 3.11 (installed April 1996 !!) and it's done all I wanted - even VAT returns when I was briefly VAT registered. Every expenditure and income is faithfully recorded by me onto this system in effectively real time.

Now OK it's ancient but any replacement is no longer owned but leased and Sage want £150 plus VAT EVERY MONTH for the modern equivalent.

I'd leave well alone except that Make Tax Digital requires compliant software able to upload to HMRC and of course it isn't.

Now the complication is that the wife and I jointly own a few flats and holiday cottages and HMRC are going to require a submission for each of us individually every four months meaning every expenditure and every morsal of income will need splitting in two and entering in two systems - a nightmare.

Up until now I've had a book keeper lady who for the last twenty years has taken my reports from Sage 3.11 and filled in and submitted our tax returns for a modest anual fee, but she's decided that now the system is too complicated so it's a good time to retire so is no longer supporting her large client base. I sympathise with her but it leaves me high and dry.

Others must be about to encounter this issue - what are your solutions?









i've been using

 

[Brad93]

Might be worth looking a Xero

 

[Brad93]

£3.70 a month

 

[harveyp6]

Working for a living, especially self employed seems far too much trouble these days.....

 

[gaz1]

if you are using the old software on an older pc

to a degree keep using it on there instead of a subscription base

the updated software should except the new file by updating the old file thats been used so anyone that is an accountant would need to load the file and submit that file where needed

its what id do anyway and whilst you could run the old software on older pc,s not connected to the net only a net pc could be used to upload the updated files from the old software to the new software

 

[addjunkie]

@Craig-SM would be the man to suggest what works

 

[Craig-SM]

For years I've been using an owned copy of Sage 3.11 (installed April 1996 !!) and it's done all I wanted - even VAT returns when I was briefly VAT registered. Every expenditure and income is faithfully recorded by me onto this system in effectively real time.

Now OK it's ancient but any replacement is no longer owned but leased and Sage want £150 plus VAT EVERY MONTH for the modern equivalent.

I'd leave well alone except that Make Tax Digital requires compliant software able to upload to HMRC and of course it isn't.

Now the complication is that the wife and I jointly own a few flats and holiday cottages and HMRC are going to require a submission for each of us individually every four months meaning every expenditure and every morsal of income will need splitting in two and entering in two systems - a nightmare.

Up until now I've had a book keeper lady who for the last twenty years has taken my reports from Sage 3.11 and filled in and submitted our tax returns for a modest anual fee, but she's decided that now the system is too complicated so it's a good time to retire so is no longer supporting her large client base. I sympathise with her but it leaves me high and dry.

Others must be about to encounter this issue - what are your solutions?









i've been using

Wow! Sage 3.11. I’ve been in accounting for a long time and I think it was version 5 when started using it and now the versions are in the 30’s

Your Sage database isn’t compatible with newer versions so an upgrade isn’t possible where you can just restore your backup from old to new Sage. Instead you would be exporting different aspects of data as csv files to import into the new version.
Sage is good software but it’s packed with features and reporting that most don’t need and you’re paying a premium for it too. Their fees and constant increases is why I dropped them along with bugs in the software that never got resolved.

You are best moving to cloud based software and they are nearly all MTD compliant that will submit your quarterly returns automatically. Whichever you go there will be a learning curve but once you’ve had a couple of returns under your belt it will second nature and a lot easier to master than Sage.

MTD is only for your sole trader or rental income for quarterly periods and the final quarter includes your other income. I‘ve not looked into partnerships under MTD as I have no clients with that criteria but imagine the software would make the splits based on percentage as normal.

QuickBooks and Xero would be my recommendations and there is plenty of online videos on how to use them but you can get courses too.

 

[Craig-SM]

if you are using the old software on an older pc

to a degree keep using it on there instead of a subscription base

the updated software should except the new file by updating the old file thats been used so anyone that is an accountant would need to load the file and submit that file where needed

its what id do anyway and whilst you could run the old software on older pc,s not connected to the net only a net pc could be used to upload the updated files from the old software to the new software

Not possible. Sage changed databases to a more efficient one. Sage then locked the software so it would only restore from a few versions older to ensure you kept buying the latest release, then they went to subscription only to guarantee regular income from customers

 

[sg66]

If you take an business account out with mettle you get freeagent mtd software free

 

[gaz1]

Not possible. Sage changed databases to a more efficient one. Sage then locked the software so it would only restore from a few versions older to ensure you kept buying the latest release, then they went to subscription only to guarantee regular income from customers

thanks for that clarification above and microsoft office used to be able to do the same

though i suspect that term above maybe used across most software upgrades nowadays all to enforce upgrades to newer systems

 

[skotl]

I get FreeAgent for free with my RBS business account (also with other RBS family accounts) and find it very easy to use

The paid version is currently £165 a year or £330 after the first year.

Xero ... £3.70 a month

...for the first three months then it's £192 or £444 a year depending on functionality

 

[Brad93]

I get FreeAgent for free with my RBS business account (also with other RBS family accounts) and find it very easy to use

The paid version is currently £165 a year or £330 after the first year.


...for the first three months then it's £192 or £444 a year depending on functionality

 

[addjunkie]

I get FreeAgent for free with my RBS business account (also with other RBS family accounts) and find it very easy to use

The paid version is currently £165 a year or £330 after the first year.


...for the first three months then it's £192 or £444 a year depending on functionality

These costs for a system to satisfy the HMRC annoy me. Its another cost, its to help them….in reality if HMRC want the data in a particular way they should provide the tool for free. Though government doesn't have a good reputation when it come to computer stuff.

 

[GRW]

Given the criminally stupid, small trader-harming intention by Rachel Thieves to drop the VAT threshold (ridiculous, destructive sabotage attack IMO)..... there will be a huge number of people forced into needing a digital system for VAT - if they hope to stay in business.

 

[premmington]

These costs for a system to satisfy the HMRC annoy me. Its another cost, its to help them….in reality if HMRC want the data in a particular way they should provide the tool for free. Though government doesn't have a good reputation when it come to computer stuff.

I agree 100% with the above...

 

[premmington]

I get FreeAgent for free with my RBS business account (also with other RBS family accounts) and find it very easy to use

The paid version is currently £165 a year or £330 after the first year.


...for the first three months then it's £192 or £444 a year depending on functionality

I think the "Free" FreeAgent version with Natwest - you still gotta pay for photo invoice input - if you doing more than a certain amount...? (don't quote me on this)

 

[GRW]

I use Quickbooks in work. It's not too badcto learn IMO- I'd say Sage was far less intuitive & logical IME.
I've said before - I built an IS9001 Quality System based around using QB to provide an Audit Trail base for Work Tasks that the Auditor liked - where I am now I use it to generate Job Numbers to track Work through the workshop, & use the Job Numbers as Order Nos for any materials/parts for each job also - it keeps things simple.

I enter purchase invoices manually though - I find it easier and more accurate. I download all Parts Quotes into Purchase Invoices into Supplier Folders on the PC - & QB allows you to attach them to your Estimate Job Card for ease of access as well.

I dare say other Accounting Apps will let you do similar stuff, but QB is what I've used mostly so can't expand on other packages

 

[skotl]

I think the "Free" FreeAgent version with Natwest - you still gotta pay for photo invoice input - if you doing more than a certain amount...? (don't quote me on this)

Dunno. I don't do photo input but it supports everything else I need: bank links, invoicing, expenses, dividends, VAT etc.

 

[Duisky]

We asked our accountant which provider they endorse/recommend and went with that, which is Xero. He can log in at his end and effectively oversee/assist remotely should the need arise. We’ve only had it for a month or so now and it seems to be easy enough to use.
Perhaps hold off until you find another bookkeeper and use a software they are fluent in?

 

[awemawson]

I'm trying to avoid using another bookeeper. At the moment I personally input all income and expenditure into Sage 3.11 using it basically as a recording instrument then have passed specific Sage reports to the bookeeper. If I can find a package that does the HMRC MTD bit it should be relatively simple apart for coping with the fact that everything has to be split between me and the wife - that is the hurdle I can't get my head around. The volumes are small - flat income comes via an agent with associated statement once a month, and holiday cottage income again is via an agent with monthly statements. It shouldn't be rocket science - we are after all Engineers !