Is your Sage product MTD ready?

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Using Sage? How do you know if your product is MTD ready?

With the Rugby Six Nations off to an exciting start, let’s kick off February 2019 by getting our Sage game plan ready for Making Tax Digital (MTD).

Many businesses use Sage as their accounting package of choice, but with so many clients using different Sage solutions, how do you know if yours is MTD ready?

Let’s take a look at the most common products currently being used for small businesses to assess if they are MTD ready.

Common Sage products:

Sage Line 50

The classic Desktop product that many UHY clients continue to use. The package on its own is not MTD ready however, an “MTD bolt-on” can be purchased to make the package compliant. Alternatively, Sage could complete a quick & simple conversion to the “50 cloud” product.

Sage 50 cloud

Ultimately has the same style as the classic “Line 50” Desktop product, only this version has a built-in cloud function, making it MTD ready.

Key features include:

  • Supports MTD for VAT return submissions
  • Allow accountant access using Sage Drive, enabling them to view your data in real time
  • Automated VAT calculation and reconciliation
  • Get paid faster by integration with SagePay, Stripe or PayPal and add pay now options onto invoices, allowing customers to pay in a quick and easy way
  • Pay suppliers – use payments-out functionality to automate and streamline supplier payments making it quick, easy and error free
  • Bank information can be automatically downloaded to automate transaction entry and support quicker bank reconciliation

Sage Business Cloud Accounting

Sage’s native cloud solution with built-in MTD compliance. Users will benefit from having access to real-time information from any device, anywhere.

Key Features include:

  • Supports MTD for VAT return submissions
  • Online cloud accounting enabling you to work with your accountant
  • Quotation management – create quotes, estimates, invoices, with built-in approvals mechanism, even on your mobile device
  • Time-saving bank rules working with data feeds to automatically post transactions and match invoices
  • Integrated payments via Stripe and SagePay
  • Migration tool can import Sage 50 Accounts data to Sage Business Cloud Accounting
  • Links to Sage Pegg mobile assistant bot for interactive queries, reports and expense capture

More information on the functionality & pricing of the above products can be found on the Sage website.

Why does UHY support team Sage for your cloud accounting needs?

Here at UHY, we have a long history of using Sage, giving our staff the in-depth knowledge needed to assist our clients. Combine this with Sage’s award-winning support and strong history of working with HMRC, you will be sure to kick MTD into touch.

If you need advice on MTD or your Sage product, call one of our UHY cloud advisors today.

About the author, Carys Turner, UHY Hacker Young, Newport

Carys Turner is head of cloud accounting at Newport, Abergavenny and Bristol and covers South Wales and the West Country. Carys joined UHY in June 2013 then went on to qualify as an ACCA in January 2018. She manages the outsourcing function of UHY including VAT, bookkeeping and cloud accounting services. Carys is fully trained in all aspects of Making Tax Digital and leads the team to ensure that all our clients navigate through the latest HMRC development.

Carys has specialisms in many industries including opticians, recruitment agents, manufacturers and professional services.

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