Hi, I have always used QuickBooks and Sage desktop accounting software. With the HMRC MTD starting soon, will I have to start using a cloud accounting software? I have tried a couple trials but they seem much slower because of having to create individual sales invoices, then save and approve them. I work from home so invoices have already been created, saved and sent to the customer by my clients. I am really looking for a system that's not very expensive for my 4 to 5 clients I work on at home. Does anyone have any recommendations please?
I'm assuming I could delay switching to the cloud until end of March 2020 and if so can anyone recommend a bridging software?
Many thanks and I expect this has been asked many times!
"With the HMRC MTD starting soon, will I have to start using a cloud accounting software?"
No. You can carry on using what you have now, but if your clients are subject to MTD you will either need to upgrade it to (or replace it with) software that is MTD compliant, or find a "bridging" solution; that is software that can import the VAT figures from your current software, and submit them to HMRC under MTD.
But, slightly confusingly, you seem to be already aware of that option because despite your first question, you also ask:
"I'm assuming I could delay switching to the cloud until end of March 2020 and if so can anyone recommend a bridging software?"
Noting the different font and sizes between the two questions, has one been copied from somewhere else as a 'prompt' to ask the other, or something?
Anyway, that confuzzlement aside, do you perhaps mean March 2019 there? Either way, I'm sure a discussion about the options will appear on this forum closer to the time.
Edit: I've just spotted that the second question starts off with a mention of delaying the switch to the cloud. So your understanding of what bridging software is wrong - that explains the odd sequence of questions. Bridging software isn't a temporary solution to use now, until it's necessary to switch to the cloud. It simply isn't necessary to switch to the cloud at all.
Bridging software is software that acts as a bridge between your MTD-unaware desktop software, and the MTD submission portal on HMRC's website. It allows you to carry on using existing software (as long as that software offers a means to get the figures out 'digitally' - you're not supposed to just copy and paste them, or type them in.)
-- Edited by VinceH on Saturday 8th of December 2018 09:05:52 AM
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
Hi, I have always used QuickBooks and Sage desktop accounting software. With the HMRC MTD starting soon, will I have to start using a cloud accounting software? I have tried a couple trials but they seem much slower because of having to create individual sales invoices, then save and approve them. I work from home so invoices have already been created, saved and sent to the customer by my clients. I am really looking for a system that's not very expensive for my 4 to 5 clients I work on at home. Does anyone have any recommendations please?
I'm assuming I could delay switching to the cloud until end of March 2020 and if so can anyone recommend a bridging software?
Many thanks and I expect this has been asked many times!
Ditto what Vince said.
Hold off spending - is MTD defo being rolled out? We dont know yet.
Yes, asked and answered many many times - have a root around and keep an eye out on here. Also - pls pitch in with stuff you have heard as it helps others as well. (Its a myth it can be de-bunked, if its good we all benefit and there are lots of folk asking Qs and not enough answering!)
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
