Using MTD for Accounting Seed

Please follow this video for details on how to submit your VAT Return using MTD for Accounting Seed.

Extra help:

VIES ROS Submission

Licencing Issues

If you are having problems with licensing, please email hello@weareprodigy.com

 

Manual Adjustment of VAT

Sometimes you receive a purchase invoice and the VAT Amount does not exactly match the VAT calculated by Accounting Seed. MTD for Accounting Seed includes Tax Groups to help.

  1. Enter the Payable (Purchase Invoice) in the normal way
  2. Add an extra line to the Payable:
  • VAT Adjustment2
  • QUANTITY: 1
  • UNIT COST: The adjustment amount – this can be positive or negative
  • EXPENSE GL ACCOUNT: Your Purchase Tax Control Account
  • TAX GROUP: ‘VAT ADJUSTMENT’

This will generate a single posting to the ‘Purchase Tax Control’ and the VAT added to the Box 4 total.

For example:

  • If you have a receipt for £100 plus £12 VAT (maybe a mixture of VATable and non-VATable items), Accounting Seed will calculate £20 VAT, but you can only reclaim £12.
  • Adding a ‘VAT ADJUSTMENT’ line with -8.00 the correct amount will be posted to the ‘Purchase Tax Control’ account (£12).
  • When the VAT Return is processed, the Box 4 value would be reduced by £8.00

 

Adding and updating VAT Tax Groups:

Tax rates can change and new rates added. This is fully handled by MTD for Accounting Seed. You will be send a new upgrade URL which add the details of the tax changes to Salesforce. Then you need to add the Tax Groups:

1. Upgrade the Managed Package

Use this URL to upgrade the Managed Package, or get in contract to make sure this is the most up-to-date version:

https://login.salesforce.com/packaging/installPackage.apexp?p0=04t4K000001Ppqw

2. Add the new Tax Groups

Navigate to the latest VAT Return and click the [VAT Return] button (top right).
At the bottom of the VAT Return page, expand the ‘Admin Tools’ page section:

Then you can select the new VAT Tax Groups needed. A message displays details of what will be added and you click the button [Make Tax Groups].

 

Apply for a new licence key:

We will get in touch when your License is due for renewal, but you can also see your license status when you go into the VAT Return page:

When you have paid for the renewal we will email you a new License Key. To apply this new key:

  1. Choose the ‘MTD for Accounting Seed’ app from the App Selector:


  2. Navigate to any VAT Return and click the [VAT Return] button:

  3. Scroll to the bottom of the VAT Return page and expand ‘Admin Tools’:

  4. Copy and paste the License Key sent to you into the field and click [Save Key]:

That’s it, job done!

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