Setup

It is REALLY important MTD for Accounting is setup BEFORE users test the system.

Note: Please DO NOT setup any Tax Groups or Tax Rates before adding the standard rates installed as part of the MTD for Accounting Seed configuration.

Before you start:

• Find out when VAT Periods end (this does not necessarily coincide with the Financial Year End) and the VAT return frequency (usually quarterly)
• You need to setup ‘Header Level Posting’ and ‘Native Tax’ in Accounting Seed:
  See: https://support.accountingseed.com/hc/en-us/articles/360045497813-Set-up-Accounting-Seed-AS-Native-Tax
• Setup the following GL Accounts
  • Sales Tax Control (normally setup with ‘Native Tax’)
  • Purchase Tax Control (normally setup with ‘Native Tax’)
  • VAT Liability (This is a new account – a balance sheet liability account)
  • VAT Adjustments (This is optional but I would recommend adding it so you can use the Manual VAT Adjustments feature)

• MTD for Accounting Seed: Installation and Configuration
• MTD for Accounting Seed: Best Practice for migrating VAT data ->>
• MTD for Accounting Seed: Debugging Problems ->>
• MTD for Accounting Seed: Adding new Tax Groups ->>
• MTD for Accounting Seed: VAT Return Adjustments ->>
• MTD for Accounting Seed: Apply a new License Key ->>
• MTD for Accounting Seed: Manual VAT Adjustments
• MTD for Accounting Seed: INTRASTAT & VIES (EC Sales List)->>
• MTD for Accounting Seed: Multi-authority VAT Submissions