VT Transaction+
Import into VT Final Accounts
A trial balance can imported into VT Final Accounts from Transaction+ using one of two methods:
The VT Books method is far superior to the old DDE method. The actual method used for a particular workbook is determined by the Link to VT Transaction using DDE tick box in the Workbook Properties dialog (second button on the VT toolbar in Excel).
Whichever method you use, VT Transaction+ benefits from the following improvements:
The trial balance analyser has been simplified and is much faster to use.
Only accounts with balances need to be assigned (preset accounts are of course automatically assigned as before).
A standard trial balance (formerly called a special trial balance) can now be displayed on screen (not just printed as before).
The rounding is more sophisticated. Cumulative accounts brought forward such as the profit and loss account or fixed assets always exactly equal the sum of the individually rounded accounts from the previous year. No more annoying £1 rounding differences between the years. You will not see the benefit of this until both the current year and comparative year numbers have been obtained from VT Transaction+.
If the default rounding heading has a nil balance you are prompted to select another heading for rounding differences.
The transfer of account balances such as fixed asset additions at the end of each year to their respective cumulative account is now automatic (it is now part of the year end transfer). Any manual entries to these accounts such as a miscoded fixed asset addition will give raise to an inconsistency between the current and comparative year trial balances and a balance test failure in VT Final Accounts. You are now warned about such entries when you import into VT Final Accounts. The above points mean that any potential balance test failures between the years in VT Final Accounts can be eliminated before you import.
By double clicking on a cell in Excel, you can now drill down to entries (not just account balances) in VT Transaction+.
When you first import into an updated VT Final Accounts workbook earlier Standard Trial Balance formats are not overwritten in VT Transaction+. Hence there is no danger of inadvertently losing account assignments or custom headings.
Account assignments and custom headings can be copied from one format to another.
Any number of custom headings can now be added.