Accounting Apps

[mattadams]

My accountant has been trying to get me to use the Quickbooks app so all the invoices/VAT payments etc are online. Haven’t taken to the idea as it feels it’s another thing to do (already have a system that works for me) and don’t like the way it’s all very generic/impersonal (unable to add company logos etc) Is HMRC making it mandatory to use these apps?

[Steve Bullman]

4 minutes ago, mattadams said:

 

My accountant has been trying to get me to use the Quickbooks app so all the invoices/VAT payments etc are online. Haven’t taken to the idea as it feels it’s another thing to do (already have a system that works for me) and don’t like the way it’s all very generic/impersonal (unable to add company logos etc) Is HMRC making it mandatory to use these apps?

 

You can add your own company logo to quickbooks.

 

And yes I believe its becoming mandatory to use apps that are compatible with the online filing system.

[Bunzena]

We've been using Quickbooks for 20+ years.  Despite the TV ads - I found it a steep learning curve.  But, as Steve mentions, it is very customisable and you can certainly add things like logos to invoices and quotes.

 

But it is the way the world is moving.  Online filing of VAT and other taxes is mandatory/becoming mandatory [HMRC "Making Tax Digital"].  Once you have got the hang of it, it's pretty simple.

 

And there are benefits.  It means less work for your accountants - so they should charge you less [or put up their prices less often!].  If you ever have a tax inspection - everything is likely to be in better order because of the way the software works.  Filing of VAT is easier, payment reminders are generated automatically, etc.

 

Quickbooks is not the only option.  But I'd be guided by your Accountant.  In the early days you will get stuck and need some help - if they are familiar with the App/Software then they are almost duty-bound to help.

 

After all - they are suggesting it!  😉

Edited May 5, 2021 by Bunzena
Typos

[mattadams]

Do you know when it’s becoming mandatory?

[Bunzena]

 

Overview of Making Tax Digital - GOV.UK

WWW.GOV.UK

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[mattadams]

Thank you for posting this...looks like closing my bank account in the Cayman Isles wasn’t a good idea [emoji6] MTD seems the way it has to be....

[Dan Maynard]

Are you using the QuickBooks self employed? That is pretty limited, the more expensive small business one is more customisable.

I've ended up with FreeAgent (written by a Scottish company) partly because it's free for NatWest customers but also it's much better than QBSE.