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Accountancy Blogs

This is the latest update on the preparation for Making Tax Digital for Tax and VAT which will require UK VAT-registered companies to submit electronic summary VAT Returns for the first and subsequent VAT Returns for the first-period end after March next year.  There are big developments so read on! HMRC Delays in Implementation Some VAT-registered persons will not be require ...

Making Tax Digital (MTD) is the upcoming legislation that is the big topic of discussion for businesses, accountants, software suppliers, and even HMRC! If you have read any of our previous blogs about Making Tax Digital, you will know that Microsoft has been working with HMRC on how to make their software solutions compliant with the various stages of implementation of MTD. We ...

This blog is relating to the latest update on the preparation for Making Tax Digital for Tax and VAT which will require UK VAT-registered companies to submit electronic summary VAT Returns for the first and subsequent VAT Returns for the first-period end after March next year. Information to be filed There has been further clarity on the information that will be required to b ...

The Making Tax Digital Panic Following the mad panic of GDPR, with many companies panicking over regulations and last minute attempts at compliance, concerns over next year’s requirement by HM Revenue & Customs (HMRC) to make tax digital are already starting to ramp up. In fact, just like with GDPR, many companies are using this hype as a way of cashing in on the next tren ...

The Jobs functionality in Microsoft Dynamics NAV® has been around for many years and from the start it has had the ability to calculate and post Work in Progress (WIP).  This blog looks at what WIP is and how you can reconcile it within NAV.  It assumes you have a basic knowledge of Dynamics NAV and the Jobs functionality within it. Basic WIP Concepts Before going into detail ...

Its’s a common problem.  You run the Inventory Valuation report and, just to be on the safe side, you compare the total with the total of the Inventory accounts in your General Ledger.  What can possibly go wrong?  Yet the two don’t agree!  This blog offers some pointers as to how to identify and correct the differences and offers a backstop fail-safe method for doing this when all else fails.

With business software solutions becoming more readily available for smaller businesses and Artificial Intelligence (AI) becoming a reality, the world of accountancy is really changing. We talked to our inhouse expert, Martin Coates, about how accountants can stay relevant and provide value to their customers.

Getting Accountancy Right Whether you are an in-house accountant or an accountancy firm, getting a company’s accounts right is more than just balancing the books. We spoke to our inhouse accountancy expert, Martin Coates, for open, honest and reliable advice on the accountant’s role. Martin worked for over 20 years as an accountant and an auditor before working a long career i ...

Accountex – what is it and who is it for? Held at the Excel in London, Accountex is the UK’s largest exhibition dedicated to accountancy and finance professionals. With exhibitors ranging from large finance software companies to training specialists, this show attracts thousands of accountants from both accountancy practices and businesses eager to learn more about the financi ...

Dynamics 365 for Financials on Public Preview We are excited to announce that Dynamics 365 for Financials has now been released for Public Preview in the UK. Financials is the ERP module for Dynamics 365 for Business. Having been released in the US in October, the UK is the first European market to get a localised solution of Dynamics 365. This preview marks the build up to th ...

Every accounts package is built around a Chart of Accounts which is used to record and analyse expenditure, income and balances. Microsoft Dynamics NAV® is no exception to this and as standard, it has a Chart of Accounts such as that in the picture. This allows the accounts to be grouped and totals for individual accounts calculated (highlighted in red in the screenshot). Ther ...

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