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Vt t+

MonsoonMonsoon Font Of All KnowledgeFMAAT, AAT Licensed Accountant Posts: 4,071
Does anyone here use VT Transaction+ for bookkeeping? I have VT but til now have only used it for account production and not bookkeeping.

My bookkeeper and I are getting annoyed with the way Solar handles VAT and so I am thinking of moving my VAT registered businesses to T+.

In Sage, there is a VAT reconcile function and so if you post a transaction in a prior period or amend an already reconciled transaction, it will give you the option to bring this in on the next VAT return. Solar doesnt have this function and so it is very easy indeed to.'lose' transactions in Solar and reconciling the VAT account manually is time consuming and annoying. We deal with a high volume of bookkeeping and clients will always provide old invoices/ receitpts months later, its the nature of the job, so there are always uncaught transactions.

I love Solar, but the inability to lock transactions for VAT is a real weakness. I would still recommend it for non VAT registered businesses as it's great software otherwise.

So my question - will VT T+ deal with VAT 'properly' with a locking/ reconciling function?

Thanks

Comments

  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Hi Jenni,

    I have recently moved new businesses from Sage to VT T+ for bookkeeping on the basis of loading and back up times as well as usability.

    As it has only been around 3-4 months I haven't had to make any changes as yet. I have however just logged in and had a look to see if you can adjust an old transaction. It flags up a warning that this transaction has been included in a VAT Return and cannot be edited. You can however add new entries to the transaction to adjust. Therefore the adjustments should reflect correctly in the new VAT period rather than the old one therefore not being lost.

    I tried Solar based on your recommendations when I was considering changes and I just couldn't get on with it. Some aspects such as payment entry and bank rec were what disappointed me on my trials.

    If you want to speak some more on it give me a call and I'll see if I can help.
    Regards,

    Burg
  • anniemanniem Experienced Mentor Pewsey, WiltshireRegistered Posts: 1,326
    Jenni,

    If you download the demo software, I can send you and your book-keeper a file to play with.

    Anna
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Thanks Anna - if you can email over a file I have the software installed already, just no data to play with.

    Ian thanks - that does sound good. I wonder if it will bring in prior period transactions that get posted after that VAT return period has been run? Probably will I expect.

    Yes there are limitations to Solar, the payment entry isn't as quick as Sage (but gets quicker with practice). I love some aspects of the bank rec but again - no locking function - if you edit a previously reconciled transaction it will throw the bank rec out.
  • anniemanniem Experienced Mentor Pewsey, WiltshireRegistered Posts: 1,326
    Done it.
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • cobblescobbles Settling In Nicely North London WhetstoneRegistered Posts: 30
    I use VT T + for bookkeeping for a variety of clients, once you save the vat return if you post items in the previous period it does pick it up in the next return, the only down side is you can unreconcile the vat return at the touch of a button, the only time I have used the unreconcile button is when I was dealing with a back log of 2 years data and I was asked to computerise from manual records and I was given the wrong vat period when I first started with them. I never unreconcile any client's vat returns that are currently up to date I would recommend vt t + I use it on a daily basic for bookkeeping.
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Thanks cobbles, that's good to know.
  • DottieDottie Feels At Home Registered Posts: 99
    Hi Monsoon

    I also use VT Transaction + for several clients and have never had any problems with VAT reconciliation. It produces a clear VAT backup report which is easy to check for any errors.

    Dottie
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