The Ftax Cashbook enables companies, partnerships, landlords, self-employed, or agent acting on behalf of such businesses to record incomes and expenses. The details of frequently used customers and suppliers may be recorded to speed up data entry. Recurring incomes and expenses can be set up to automate Cashbook entries.
The Cashbook is able to automatically calculate the VAT report and submit to HMRC in an MTD compliant manner. This calculation may be done using standard or cash basis accounting. The VAT rate may be standard or flat rate. Short-term Government adjustments to VAT rates, such as those made for the Covid crisis, will be automatically applied.
The Ftax Cashbook will also calculate and forward data ready to be automatically entered into the self-employment and UK Property section of the SA100, the trading section SA800, and the Accounts section of the CT600.
The Cashbook has been kept simple with only essential features included.