TopNotepad has fully featured software for VAT compliance. With the new making tax digital (MTD) VAT regulation, all the VAT registered businesses in the UK have to use VAT digital Software that can directly interact with HMRC servers to retrieve and file VAT returns. TopNotepad offers an array of low-cost accounting software packages and you are free to choose the one that suits you the most.
If you are using TopNotepad you rest assured that you can stay compliant and always stay ahead. The software is simple and helps you not only save time but also stay organized and be tax time ready. Accounting is a key aspect for every business and it is tough for any business owner to flourish without maintaining proper record of financial transactions.
A well-managed book can provide great insights into the health of your business and provide you data for making strategic decisions.
MTD VAT expects every business to keep a digital record of all inflows and outflows of the business, which will help you be compliant with the new MTD VAT law. It is mandatory for every registered entity to ensure taxes are remitted and tax returns filed well before the due dates.
TopNotepad is a cloud-based affordable invoicing and accounting software that helps small businesses seamlessly manage VAT. We support standard rated VAT scheme, Annual accounting scheme, Flat rate scheme, and Cash accounting.
For those who are not upgrading to TopNotepad, below list highlights the key financial records of business that needs to be maintained digitally:
-Maintain a digital record of all the invoices
-Keep track of payments made against each of the invoices
-Log operating expenses incurred to run the business
-Record all purchase bills and payments made against those bills
-Record all capital expenditure like the purchase of furniture, equipment etc., for your business
-Track payments made against all kinds of expenses, both capital and operating
-If you are a manufacturer or trading in goods, keep track of inventory
-Regularly create key financial statements such as profit and loss account, cash register, tax reports, and balance sheet
In case, you are a small business, you can save yourself significant time, money and effort and also accomplish everything list above if you upgrade to TopNotepad, which is cost-effective free MTD software for small businesses. The software would not only help you be tax time ready but also help you manage other aspects of your business. The auto-bookkeeping feature creates all the required book-keeping documents with no additional work, just create invoices and log your expenses, that’s it!
We strongly recommend all small businesses not to invest in industry-specific software, which are complex and may not be affordable.
TopNotepad is carefully designed software to manage books and invoices for a variety of small businesses