I just and to use Quickfile to submit my very simple quarterly VAT return. When I say “very simple”, I mean it: I pay flat rate VAT, I submit no more than four VAT returns per quarter and I pay my VAT by direct debit. Since HMRC are requiring everyone to use software like Quickfile, what’s the simplest and easiest way to set it up. I don’t need to create invoices or anything like that. I just need to be able to input my few invoices and send the information to HMRC and allow them to directly debit my account.
Can I just check, will you be entering sales and purchases into the software or are you storing this information in Excel or (similar)
Prior to you using QuickFile how were your records stored?
- Paper based.
- In a spreadsheet.
- In another accounting package.
The MTD scheme HMRC brought in means you will no longer be able to store paper based records and they must be stored digitally.
HMRC have given 2 options
- Enter all your paper based transactions in a spreadsheet and use compatible bridging software to do your submission.
- Enter all your transactions into MTD compliant software and use it to do the submission.
QuickFile offers both methods
Our Bridging Module is £45 + vat annually OR QuickFile is free up to your first 1000 nominal postings per year then £45 + vat annually after that.
If you are coming from paper based records and have to digitise your records anyway.
Posting them directly into QuickFile would be the simplest and cheapest option as the software may most likely be free (if you do not have many transactions).
If you prefer to use a spreadsheet and the Bridging Module here are the instructions - VAT Bridging
PLEASE NOTE you can not just have a spreadsheet containing values for boxes 1-9 as the whole point of the MTD system is that there is a clear digital link to your backing data/transactions.
I don’t use a spreadsheet or another accounting package so my records, to all intents and purposes, are paper based. They are, in fact, stored on my computer, with the invoices as Word documents and my VAT returns stored as PDFs that I download when I complete my quarterly returns.
At present, all do is to enter the total of the handful of invoices I issue every quarter into HMRC’s VAT portal, it does the calculations and takes the money out of my account. It takes me about ten minutes. I would like to do something similar with Quickfile but I’m not quite sure where to start, because it’s clearly capable of doing a lot more than this.
Are you able to reply and give me advice?
Sorry I missed your reply.
As I mentioned, HMRC are requiring companies to digitally store transactions.
You can either enter these in a spreadsheet (then bridge the submission) or an accounting package (that can do submissions).
Find which is best for you.
You can try entering them into QuickFile and do a submission (QuickFile is free up to your first 1000 nominal postings per year then £45 + vat annually after that.) this may be the better option if you dont have many transactions.
You can try entering them in a spreadsheet and use QuickFile to do a submission (the first submission via our bridging software is free then a subscription is required £45 + vat annually after that.)
Is it necessary for me to create invoices in Quickfile? I just want to put the amounts in, as I would do at the moment with my online VAT form?
If so, where do I get step-by-step instructions to do this?
Your not able to just type in the figures any more. That’s the whole point of making tax digital, you need digital records.
Do you use anything digital to create and store the invoices and things now? I think there’s a tool in quickfile which allows you to upload a spreadsheet but the figures in it need to come from somewhere else digital like another software package
No. I simply create an invoice as a Word document and send that to my clients, who pay me by bank transfer.
Is there a step by step guide on the simplest way I can use QuickFile to complete my VAT return? If that means using it to create invoices, that’s what I will have to do but, at present, when I open up QuickFile I have no idea what to do
The link below is to our support page with the getting started section.
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