VT Software provides a free Digital record sheet for keeping digital records as part of MTD (Making Tax Digital) requirements.
This sheet is intended for individuals who want to keep their records on a spreadsheet.
Accountants/agents who have a VT licence, who have MTD clients without a VT licence, can ask their clients to enter transactions on this sheet and send it to them each quarter. The accountant/agent will be able to generate and submit a quarterly update from the sheet.
Download VT Software from the home page and click on the downloaded file to install the package.
On your desktop, open the VT Report spreadsheet program:
Click on one of the Digital record sheet
templates:
Enter your income and expenses transactions on the
sheet:
Press Ctrl and S on your keyboard to save the file.
The Digital record sheet is free to use to enter transactions. A VT licence is required to submit quarterly updates from the sheet.
A quarterly update can be generated by selecting Digital Record > Generate Quarterly Update.
The quarterly update can be submitted by selecting Quarterly Update > Submit.
If you are VAT registered, VAT returns can also be generated from the same set of records.
A VT licence is required to submit VAT returns, but it is free to just enter transactions on the Digital record sheet.
A VAT return can be generated by selecting Digital Record > Generate VAT Return.
The VAT return can be submitted by selecting VAT Return > Submit.
For full instructions on using the Digital record sheet in VT Report, see VT Report User Guide: Enter transactions on the digital record sheet.
