SQLWorks Accounting was approved for five key functionalities following demonstration of a sandbox environment to HMRCs review team. Learn more about Making Tax Digital with SQLWorks here.
We’ve updated our SQLWorks software to support Making Tax Digital – with Lineal staff officially demonstrating their work to HMRC’s Review Team during January 2019.
SQLWorks Accounts Prefs can be linked directly with a company’s HMRC VAT Account, granting permission to submit quarterly VAT returns for 18-months before re-authentication is required.
Making Tax Digital will be available for all SQLWorks Accounts Admin users via the existing VAT Ledger, and allows the accounts administrator to report their VAT return (shown in boxes 1-9) directly to HMRC’s system at the press of a button.
SQLWorks can also report up-to-date VAT account status information (such as obligation, payment and liability entries) from a company’s HMRC account, and access logs recording the full audit trail of communication between HMRC and our software. Once submitted, the company’s VAT return quarter is locked down to ensure security of reporting.
Lineal Software Solutions have been officially registered as a provider developing software suitable for HMRC’s new ‘Making Tax Digital’ initiative.
The new tax regulation, which will require UK businesses to undertake tax reporting (initially VAT) via digital links from April 2019, will need approved accounting software to report directly and digitally to a company’s HMRC digital tax account via web API.
Only software which passes a reporting test set by HMRC using example data will be approved for Making Tax Digital (Phase 2 standard.)
Mike Matthews explained: “Currently only around 130 software providers in the UK are registered as developing for direct Making Tax Digital accounts reporting. SQLWorks has had the ability to calculate your VAT return for many years, but very soon, you’ll be able to process your submission direct to HMRC digitally too.”
HMRC says a quick Hello to SQLWorks during testing…
“HMRC’s main aim is to remove any re-keying or manual re-processing of data – which will make SQLWorks the perfect integrated solution for processing business all the way from quotation to sale, to direct VAT reporting.”
“The government have recently altered some of the software rules being put into place for making tax digital, but we’re hard at work to make sure all SQLWorks customers can begin reporting VAT digitally from next year.”
Recent figures collected by The Institute for Chartered Accountants have suggested awareness of Making Tax Digital is still very limited, with less than half of businesses stating they were unaware of changes that are about to come into force.
This Page will be updated periodically with the latest SQLWorks Making Tax Digital news – please check back for updates! 30.10.18
For an effective, integrated software solution – contact our team today.
Using SQLWorks Audit, accounting managers can generate key financial reports either ‘Live’ using real-time data, or from an enforced point in time.
This feature is available using the ‘Audit’ tool. When this tool runs, SQLWorks collates the most up-to-date financial data available from the accounts, to use for financial reports. Auditing can be performed immediately before the creation of a new report, by ticking the ‘Audit Matrix’ checkbox in the report options, to ensure the report shows ‘live’ data.
If the checkbox is left unticked, SQLWorks will report using figures from the last time the accounts were audited.
Auditing can also be run independently from the ‘Audit By Year’ option in the main SQLWorks Navbar, by right clicking on the financial year in the main list and clicking ‘Audit Year’. The adjacent column displays the date of the last successful audit. This can be used to manually designate an official Audited point in time, from which reports are run, until you are ready to re-audit.
‘Live’ data reporting is normally the preferred option, as it permits accounting managers to get an instant snapshot of the exact state of the business accounts at that moment in time.
Reporting from the last audited point in time may be more useful in certain situations however. On systems with large numbers of transactions being entered, some businesses prefer to draw a line in the sand, and report consistently from this point in time, until ready to perform the next official reporting audit.
To learn more about SQLWorks financial reporting, contact our team today.
SQLWorks Accounting includes the option to enter Journals both manually, but also offers the chance to save time by importing journals from a spreadsheet of data directly to your Nominal Ledger.
When in the Nominal Ledger click ‘Journal’ in the top toolbar, and the add Journals window opens. To begin importing your journals, click the ‘Import Journal Option, and browse for the file you wish to import.
Imports must be imported using a fixed format from a template file: a copy of which can be found within your SQLWorks installation ‘Misc’ Folder as a Microsoft Excel spreadsheet – or downloaded here.You will need to enter your data and save the file as a tab-delimited text (.txt) file before importing.
SQLWorks will warn you if the data you are seeking to import is old, and may block you from entering nominal journals into locked accounting periods.
Once importing journals has run successfully, your nominal journal data will appear in the list of journals to be added, and users can commit them to the Nominal Ledger by clicking ‘Save and Close’.
SQLWorks includes two levels of security permissions: Group and User security.
User security states which parts of SQLWorks a user has access to (visible within menus) and does not have access to.
Group Security sets permissions for groups of users, including every user in that group and overrides an individual’s security settings.
To review your SQLWorks users, click the ‘System Administration’ button on the main navbar. If you wish to review your users, click ‘Users.’ This displays a table with every valid SQLWorks user at your company, and administrators can double click to view or edit an individual’s user settings.
To review your SQLWorks groups, click ‘Groups.’ This displays a table with your saved Groups of users. You can also add a new group, copy or edit any existing group from this table.
To change your security settings, click ‘Security’ (1). This loads your list of groups in the left hand list, with the users contained within any selected group in the right hand list. By clicking the ‘Add’ or ‘Remove’ buttons you can add or remove individual users to the correct group.
By using the ‘Group Windows Security’ Tab along the top, you can also set the permissions for that group (and therefore the users contained within it.) Grant access by clicking the checkboxes next to each area of the system, and give ‘Basic’ (find, add new or edit) or ‘All’ permissions (find, add new, edit, edit multiple or delete.) (2)
There are no limits on the size or number of groups users can be assigned to, so your permissions structure can be as simple or complex as your internal company policies require. Please ask the SQLWorks team if you need help or advice on setting up security permissions settings, or on IT security best practice.
By default, SQLWorks has one ‘Admin’ group which has administration permissions for the Sales/Purchase Ledgers, Stock Ledger, Finance and CRM sections. This can be changed to different groups in larger organisations – for example to designate a different administrator for sales/purchasing.
Once you have your users and groups configured correctly, simply close the System Administration window, and your SQLWorks security permissions will be in place when each user next logs on.
SQLWorks Security Permissions
Bank Ledger – Security permissions for managing Bank accounts and cash accounting
Bank Accounts – Lets users see Bank accounts within the Bank Ledger.
Bank Transactions – Lets users access options for bank transactions within the Bank Ledger.
If you have customers who prefer to have their bills collated onto a single monthly or weekly invoice, SQLWorks can administrate the consolidated invoicing process for you.
Consolidated invoicing can be activated under the ‘defaults’ tab of the chosen company in your SQLWorks Sales Ledger by changing consolidations from ‘None’ to either ‘Monthly’ or ‘Weekly’, depending on how often you would like your invoices to be consolidated together.
Because this is a change to how invoices will be issued, this option is only open to those with sufficient accounts admin privileges, and will issue a warning message before saving the new invoicing settings for that company.
When a new invoice is now added for that company under the ’transactions’ tab, a delivery note can be printed as normal, but the invoice cannot be printed, emailed or otherwise sent individually whilst consolidated invoicing is still activated for the chosen company.
When you are ready for your invoices to be consolidated, click reports in the top right corner, and choose ‘Report Un-printed Invoices’ as when using SQLWorks bulk invoicing. SQLWorks will prompt asking if you wish to consolidate the invoices of those accounts for which this setting is activated, and once approved will begin consolidating invoices.
All outstanding invoice lines for the required companies will be consolidated onto the last invoice of the month/week in which it is dated, and can now be emailed/printed for invoicing as normal.
Your Quotes and Orders remain unchanged, but individual invoices will now be hidden from view, replaced by the new consolidated invoice ready for sending. In the event that you have outstanding consolidated invoices from previous months/weeks unpaid, these will also be ready for re-sending.
In this way you can easily invoice repeat customers without excessive paperwork, and ensure that you keep the number of transaction entries on a single SQLWorks sales ledger account to a manageable minimum.
SQLWorks can help streamline your customer invoicing: find out how.
Bigger businesses can find it useful to send out invoices in batches (‘bulk invoicing’) – here’s how to do that in SQLWorks.
Click the ‘Reports’ button in the top right hand corner of your Sales Ledger and select the ‘Unprinted Invoices’ option. This loads a new window displaying any invoices which haven’t yet been submitted to a customer for payment.
You can select individual or multiple invoices (or choose a range of invoices by invoice number) and send these automatically by clicking the ‘Print/Email’ button.
Whether your invoices are printed, emailed or both can be set for each company in the Sales Ledger under the ‘Print & Orders’ Tab – under Default Print Settings you can choose how to send invoices to that client, and set an invoicing contact email for that company.
This same tool can also be used for automatically sending statements to customers in your Sales Ledger, by entering a contact email address for statements and choosing a format for sending.
In addition, you can set SQLWorks to send Sales Ledger Statements based on amount – choose ‘No’ to never send this customer a statement, ‘Yes’ to send if the customer has an outstanding balance, and ‘Always’ to always send a statement regardless of outstanding credit.
Both the automatic sending of invoices and statements in SQLWorks, in bulk, allows you to easily get through larger volumes of customer billing.
For support and advice, please contact our SQLWorks team today – 01271 375999.
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