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QuickBooks Announces Full Making Tax Digital
Making Tax Digital, or simply MTD, is an initiative of HMRC in U.K. It aims to make the tax system in the country more efficient, effective, and easier for the taxpayers. MTD becomes effective from April 1, 2019. Quickbooks support has been quick to respond to this initiative. At its annual conference called Quickbooks Connect, the company told the gathered audience how the company has made Quickbooks compliant with MTD. Speakers at the conference spoke at length to reassure individuals and accountants that it is now easy for them to adopt MTD.
Quickbooks suite designed for MTD has already been made available for small business owners, accountants, and individuals. It contains tools that make it possible to make a business MTD compliant. Businesses will now be able to file their VAT with the help of spreadsheets.
There are many new tools in MTD compliant Quickbooks suite. One of these is Smart Check, software that spots common mistakes that have been made in filing VAT returns. There is also Smart Notifications, a tool that notifies users about the dates when VAT returns need to be filed. Both these tools make sure that the consumer is able to files his VAT returns efficiently on time to avoid penalties.
Quickbooks has introduced its new suite after working with HMRC and after paying close attention to the feedbacks coming from the accountants and the small business owners. Quickbooks online support has been utilized at a large scale to understand the difficulties being faced by the consumers. The company has also conducted several pilot projects before the launch of this suite to finally provide a solution that is foolproof and highly compliant to MTD.
One major highlight of the new suite is software called Quickbooks Bridging. This program makes it possible for Quickbooks users to file VAT returns using spreadsheets. The company is hopeful that by embracing digital tax payments, businesses will be able to boost their productivity in a big way. Quickbooks Bridging will be very useful for those business owners who are not yet using any accounting software but want to be MTD compliant by paying their VAT returns electronically.
Quickbooks tech support is making sure that all its consumers are able to file their VAT returns easily without any difficulties. It has established a helpline to answer the queries of accountants and business owners related to MTD. This Quickbooks helpline is working overtime to provide solutions to professionals and business owners to allow them to be MTD compliant.
Quickbooks is looking after the needs of its customers through Smart Look. This service, which is already operational in the U.S, has been launched outside the U.S for the first time. Under this features, users can access help from the company directly on their computers. User can see a video feed where he can directly talk to a customer support agent in Quickbooks.
The latest offering from Quickbooks will also contain Receipt Capture, a feature that allows business owners and accountants to take images of receipts from HMRC and report the same to the users.
This post was first published on:-http://allaboutinternet.home.blog/2019/03/11/quickbooks-becomes-mtd-compliant/
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