This also posts the VAT into the portal, and is then used to automatically calculate and submit your VAT return to HMRC at the end of the quarter.
The portal also calculates how many miles you’ve covered and applies the correct mileage rate so there’s no need to keep a separate record of journeys.
Keeping track of VAT
At the end of your company quarter, an automatic process is run which creates and submits the Vat return to HMRC.
The portal also stores a complete history of each return submitted, and the transactions included therein.
The gross or net amount can be changed at any time for any employee.
When the payroll processing is complete, an RTI report is then submitted to HMRC.
Bank Statement Uploads
The data formats are flexible to handle most banks outputs.
These uploaded transactions can then be used to reconcile existing transactions in the portal, or to create new ones with pre-filled data from the bank statement.
This allows you to setup the transactions details, and also specify the recurring period and interval.
These transactions will then automatically be posted according to the rules you setup.
This removes the need to insecurely email sensitive documents, and also has the advantage that your AccountsNet Accountant gets an automatic notification when files have been received.
The Virtual Desktop provides a permanent and secure storage area for our clients, making documentation always available whenever needed.