QMAccountancy +VAT +CIS Tax Year 2009-2010

QMAccountancy is a software package for sole traders, small business who are VAT registered and are operating as subcontractors under the CIS scheme.

QMAccountancy has an easy to use, intuitive interface that allows you to learn and get familiar with the product as quickly as possible.

You don't have to have any experience in tax or accountancy to use QMAccountancy. The product will take you through, step by step, entering all the information it requires to produce a set of accounts and tax documents.

With the VAT addition you can also generate VAT returns.

Key features

Bookkeeping

When using the bookkeeping section of QMAccountancy it is as simple as entering your transactions in a book. This can be from your bank statements, cash receipts, invoices or credit card statements. Each transaction has a set of information you enter, e.g. the date, the type of transaction (this is chosen from a list) and the value of the transaction.

You can enter your transactions in one go at the end of the year, or you could enter it on a weekly / monthly basis, or whenever you normally do your bookkeeping.

You can view all the transactions you enter and easily fix any mistakes. You can generate summaries of your transactions. e.g. view weekly / monthly / quarterly summaries. Search your transactions based on your chosen criteria and perform account reconciliations to ensure that you have not made any mistakes while entering your transactions.

QMAccountancy allows you to manage 3 bank accounts, a cash account and an unlimited number of credit cards

Accounts

From the bookkeeping section the program will create a trial balance from the start date using all the information you have entered and automatically create a set of accounts. The program will take you through debtors, creditors, stock, cleaning & laundry, home as office and depreciation before producing a profit & loss account together with a balance sheet for that period.

Tax Return & Tax Calculation

Once the accounts have been completed and you are satisfied with them the program will then take you through the tax section. The program will direct you through the written down value for assets and assist in deciding if their are adjustments necessary for private use. The program will then calculate the taxable income based on the figures entered, it will also draft up the self-employed pages for transfer on to the online return.

VAT Returns

Using the transactions you enter the program will generate VAT returns on a cash basis for any period. Simply choose the date the VAT period starts and ends and the program will generate the VAT return form and a breakdown of the figures on the VAT return form for your records.

The choice is then yours whether you want to transfer the figures to the online revenue form or whether you transfer to the paper form.

CIS

QMAccountancy +VAT +CIS has all the abilities and features of the previous programs with the added ability to record tax deducted from payments at source. The program will keep a running total of tax paid and make the necessary adjustments to both the accounts and the tax calculations. Making sure you get the relief for the tax deducted on your tax return.

System Requirements

Windows XP or Windows VISTA
Windows 7 Beta Compatible
Microsoft .NET Libraries (if you do not have these, the QMAccountancy installer will install them).
CD-ROM drive.
10MB Free Hard-Disc space to install QMAccountancy 2009-2010.
50MB Free Hard-Disc space for the business files.