VAT Reporting with Online Tax Software
VAT affects everyone in business, even if it is only the decision to become VAT registered or not. When a small business does register for VAT, it then has to make regular VAT returns; it has to deal with both purchases (Input Tax) and sales (Output Tax); and it has to calculate the quarterly or annual return. All of which can become an onerous task. Any help making VAT returns is usually welcomed.
Arithmo will quickly and accurately calculate all your VAT entries. It has been designed to make VAT easy. If your records are kept on a cash basis or a standard accounting basis, each transaction is dealt accordingly.
Although Arithmo easily deals with VAT for you, it does it in a powerful way, accommodating the Flat Rate VAT scheme for instance. Also, being web based software meant the recent VAT change to 20% was implemented across the whole system instantly, but from the correct date. (Previous entries still had the old rates applied automatically.) Not only that, each transaction can only ever appear in one VAT report.
