MTD for Accounting Seed
Bringing comprehensive VAT handling to Accounting Seed
MTD for Accounting seed provides tools to setup the key VAT Treatments as Tax Groups and Tax Rates in Accounting Seed, including reverse charge. Using these Tax with Sales Invoice (Billings) and Purchase Invoices (Payables) ensures the correct values in your VAT Return.
It’s simple to manage the full VAT submission processes:
- Build the VAT Return – Using batches to ensure it can handle any data volume, and optionally including late invoices
- Validating the VAT Return – Using reports for the whole return and at Box Number level enables you to verify the VAT Return is correct
- Export the MTD compliance csv file for submission using bridging software such as Avalara MTD Filer
- Submit Return – This completes the process and prevents editing invoices or undoing the VAT Return, and posting to the ledger.
Head to Alpha Index to learn more.