Anyone who runs a small business knows how important it is to be able to keep their accounts up to date quickly and easily. We also know how easy it can be to make mistakes, so Pandle has all sorts of data checking and validation tools to help minimise the risk of bookkeeping errors.
In fact, our latest product update helps to protect your existing VAT returns from any date changes which would cause problems. Because who has time for those?
Updating the start date of your VAT scheme
You can view and edit your current VAT settings in Pandle from the Company Settings menu.
Then go to the Financial Info tab to add or update VAT information about your business. To make changes to any current VAT registration information, click ‘VAT Schemes’
This opens the list of VAT schemes that you currently have registered with your Pandle account.
Then just click the ‘Edit’ button next to any scheme you wish to update information for.
Reducing the risk of VAT accounting errors
The problem is, updating VAT registration details can have pretty serious consequences if they clash with existing VAT returns. It only takes a seemingly small typo or lapse in concentration, and yikes.
To avoid anyone’s VAT returns becoming an unholy mess, Pandle will alert you if updating the start date of a VAT scheme will cause problems with the date of any locked VAT returns.
Even accounting supremos can make mistakes, so this way Pandle can let you know if there’s a locked VAT return that needs updating or a rogue typo causing trouble in the neighbourhood. We’re like bookkeeping neighbourhood watch.
Find out more about using Pandle cloud accounting software for MTD VAT, or create a free account.
