Can anyone recommend software I could purchase for payroll? I am use to using sage and have been doing any bookkeeping work so far on excel (I have one very small client and one I am waiting for clearance from their previous account who will also be very small). I am looking into adding Payroll onto my list of services (I have the qualification, just needs refreshing taking into account his new RTI). could someone also tell me whether it is worth getting any software to help with self assessments submissions. HMRC seem fairly straight forward but I have heard people mentioning various software a that can save time?
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Cant comment on payroll as I outsource all my payroll work.
Unless you have a decent client base (say +20) then it isnt worth getting software as the cost would probably outweigh the benefit. You could get by using something like VT for accounts and hmrc for tax returns.
As you get bigger there are savings from using an integrated accounts and tax package. There are various combinations that people on here use and really comes down to personal preference and price.
Personally, I use taxcalc for accounts production and tax returns which is fully integrated and speeds up the process when preparing accounts, submitting accounts with Companies House, submitting personal tax returns from the accounts info and submitted company tax returns with IXBRL compliant accounts. I pay about £900+VAT per year but have over 100 clients so it is worth the cost from my viewpoint in the time saving made.
Use SAGE for bookkeeping and advise clients to use combination of SAGE, Xero, VTcashbook, excel spreadsheets depending on the size and complexity of their business.
Just to clarify there though Mark, I would not say that VT+ was a product aimed specifically at entry level practices although such is a very good product for that level.
For service businesses (IT, teachers, management consultancies, agencies, etc.) I would actually go as far as saying that VT+ would be my software of choice.
For retail, restaurants, bars, etc. I think that Sage / Quickbooks, etc. currently win out.
Personally I would not classify VT as entry level software but rather good software in its own right that can for many business types go head to head with the market leaders.
I should say that I am referring to VT Transaction+, not VTcashbook which is of course a much more basic product, but then of course, its free.
I will say that I can totally see your point about integration by using Taxcalc for both accounts and tax (but without the bookkeeping element).
There's a similar arguement of course that VT Accounts is integrated from the perspective of Bookkeeping via the VT+ component and Accounts production (for anyone else reading this also of course producing iXBRL compliant accounts), but in the case of VT lacking the tax integration.
I am still considering taxcalc as an option but personally I really like VT which I was reading recently has strong integration links to BTC which opens up other possibilities.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
