Recently we received this question from a member:
I am a one-man practitioner who deals mainly with small clients. I like to recommend to clients who ask (most of them) good easy to use software for bookkeeping. Up to now I have recommended VT Transaction+ but they have said that they will not be making changes to accommodate MTD so I am looking for an alternative. It is sophisticated but easy to use, there are sufficient reports but not too many, it’s multi-currency, it can be divisionalised, there is no year-end procedure other than to lock a year’s books when they are finalised, correcting errors is supremely simple.
The member wishes to locate a suitable alternative to VT Transaction+. It is challenging to find a suitable replacement as many applications provide numerous features that are simply not required.
Do you have any suggestions? If you do then please leave your answers below.
Probably a bit early to jump from the VT ship until we see how MTD really pans out. This snippet from VT may also give some hope:
"VT Transaction+ will not be implementing MTD for VAT directly. The 2018 edition (due shortly) will include a feature to export the numbers in a VAT return to the Windows clipboard (a bit like Copy and Paste). It is expected that a number of third party apps will be able to accept this data and file the VAT return with HMRC."
I believe there is already a third party program which will electronically submit VAT returns from VT but cannot lay my hands on the link at the moment.
You may already know a number of vendors are lining up to support VT users for MTD - for example, BTC. You can find an up to date list at https://www.icaew.com/technical/tax/making-tax-digital/mtd-guidance/software