VT Transaction+ User Guide

1 VT Transaction+ user GuideVT Transaction+ I Table of ContentsPart 11 Introduction .. 12VT Cash Book .. 13VT Final Accounts .. 14 Quick start .. 15 Opening files created in the old VT Transaction .. 26 Who should use VT Transaction+ .. 37 Technical support .. 38 License terms .. 39 user interface .. 510 Files and folders .. 511VT Transaction+ data files .. 612 Using VT Transaction+ on a network .. 613 Backing up data files .. 714 Corrupted data files .. 715 Moving VT Transaction+ to a new PC .. 716 Emailing a data file .. 817 Receiving a data file by email .. 818 Working on a client's data file .. 819 Accounts and ledgers .. 920 Financial years and periods .. 1021 Bookkeeping basics Part IIEntering transactions (including openingbalances) 111 Opening balances .. 132 Transaction entry methods .. 143 Universal Input Sheet.

2 144 Transaction reference numbers .. 155 Transaction dates .. 156 Transaction details .. 167 Direct debits and standing orders .. 168 Transaction notes .. 169 Analysis ledgers and accounts .. 1810 The Payments And Receipts entry method .. 1811 Customer and supplier payments .. 2012 Bounced cheques IIContentsII .. 2113 Credit notes .. 2114 Writing off bad debts .. 2115 Journals .. 2216 Reversing Journals .. 2217 Wages and salaries .. 2318 Fixed assets .. 2419 Opening and closing stocks .. 2520 Construction industry subscontractor payments .. 2621 Accruals and prepayments .. 2722 Taxation .. 2723 Dividends paid .. 2724 Recurring transactions Part IIII ssuing invoices to 281 Introduction .. 282 Data used by an invoice .. 293 Reports .. 294 Correcting an invoice .. 295 Printing an invoice .. 296 Products and services.

3 307 Credit terms .. 308 Invoice templates .. 319 Customising invoices .. 3110 International issues Part IVReports, correcting mistakes, 311 Displaying reports .. 322 Sign convention .. 323 Report windows .. 344 Drill down .. 345 Customer statements .. 346 Correcting mistakes .. 357 Bank reconciliation Part VThe account 371 Introduction .. 372 Displaying the account window .. 373 Account selection list .. 384 Drill Down VT Transaction+ III .. 385 Allocations .. 386 Selecting entries .. 397 Top toolbar .. 398 Bottom toolbar .. 409 View tabs .. 4110 Editing transactions Part VIValue Added 411 Introduction .. 422 Entering VAT .. 433 Creating a VAT return .. 434 Paying a VAT return .. 435 Net value of transactions .. 456 Correcting mistakes on VAT returns .. 457 Fuel scale charge .. 468 Setting the default invoice VAT option for a customer or supplier.

4 469 Sale of goods to the EC .. 4610EC Sales List .. 4711 Purchase of goods from the EC .. 4712 Reverse charge transactions .. 4813 Proforma invoices for services .. 4814 Accounting for returns manually submitted .. 4915 VAT cash accounting .. 5016 Flat rate scheme .. 5217 VAT retail schemes .. 5418 Partial exemption .. 5519 Changing the standard VAT rate Part VIIM ulti-currency 561 Objectives .. 562 The recording of currency transactions .. 563 Revaluation of currency denominated amounts .. 574 user issues .. 575 Setting up .. 586 Entering transactions .. 597 Revaluing currencies .. 598 VAT implications .. 599 transactions entered out of date order .. 6010 Displaying currency balances .. 6011 Comparative balance sheet IVContentsIV .. 6012 Forward exchange contracts .. 6113 Behind the scenes.

5 6114 Tracing exchange gains and losses .. 6215 Editing currency transactions Part VIIIO ther 621 Processing trial balances .. 642 Self employment tax data .. 643 Account codes .. 654 Departmental costing .. 665 Custom ledgers .. 666 Custom transaction types .. 667 Year-end procedures .. 678 Conversion of year ends in files created in the old VT Transaction .. 689 Concepts .. 6910 Accessing VT Transaction+ files from other applications VT Transaction+ 1 Transaction+ is a fully featured accounting/bookkeeping package for Windows. VTTransaction+ can be used in a wide range of circumstances from smallincomplete-records jobs to companies with hundreds of thousands of Transaction+ has an integrated ledger structure that includes a cashbook, customerand suppliers ledgers and is based on double entry principles.

6 VT Transaction+ cancontain an unlimited number of accounts and Transaction+ is flexible and easy to use, data entry is very fast and transactions andentries can be easily edited. Many users prefer it to better known Cash BookVT Cash Book is a highly simplified version of VT Transaction+. In particular, you cannotmaintain customer and suppliers ledgers using VT Cash Book. The contents of the datafiles used by VT Transaction+ and VT Cash Book are identical and the data files can beopened interchangeably by either application. VT Cash Book is permanently available as a free download from Final AccountsA companion product, VT Final Accounts, produces statutory accounts (for filing atCompanies House and distribution to shareholders) from trial balance stage upwards. Italso produces professionally formatted accounts for unincorporated Final Accounts can read and write VT Transaction+ and VT Cash Book files directly,without the need for the respective application to be the software by double clicking on the VT Transaction+ shortcut on yourdesktop.

7 If you chose not to install a shortcut, click Start, click All Programs, click VTand then click VT Transaction+ a new company/business data file by choosing the New Company commandfrom the File menu. Alternatively, an existing file can be opened by choosing the OpenCompany command from the File menu, or by double clicking on it in a folder transactions by clicking on the buttons on the main toolbar, or by choosingcommands from the Transaction accounts and other reports by choosing a command from the Display files created in the old VT TransactionFile extensionOld VT Transaction file names end with the characters .tra (these endings are oftenhidden by Windows).Basics2 Opening a file using the Open Company commandYou can open an old VT Transaction file in the same way as a VT Transaction+ file bychoosing the Open Company command from the File menu.

8 You will be prompted toconvert the format to VT Transaction+ and save it under a new file name. The old file isleft unaltered and can still be used in the old VT a file from a folder in WindowsTo open an old VT Transaction file from a folder in Windows: If the old VT Transaction is not installed, simply double click on the file If the old VT Transaction is installed, right mouse click on it an choose Open With VTTransaction+ from the pop-up menuGoing backwardsYou cannot convert VT Transaction+ files back to the old VT Transaction from the old VT Transaction floppy disk formatVT Transaction+ cannot restore files from floppy disks made using the Backup ToDiskette command in the old VT Transaction (these files have the extension .trb).Instead, you should choose the Restore From Diskette command from the File menu inVT Transaction first to convert the file into a.

9 Tra file. This file can then be opened by VTTransaction+.Differences in the converted fileOccasionally, the new file VT Transaction+ file may be slightly different to the original VTTransaction file because certain items are handled in a more correct manner by VTTransaction+. For more information, see the following topics: VAT - Net value of transactions (last paragraph) VAT - VAT cash accounting (last paragraph) Other topics - Conversion of year ends in files created in the old VT should use VT Transaction+ VT Transaction+ is very easy to use and can be used by accountants andnon-accountants alike. However, users without accounting knowledge will probably needhelp from their accountant with the following up opening balances, especially the opening VAT on whether to maintain customer and supplier ledgers or whether toenter cash directly to income and expenditure accounts and that VAT has been correctly entered before submitting a VAT accountingVT Transaction+ 3 supportSupport is only provided to VT Cash Book users if they have purchased a license for VTTransaction+.

10 Five support enquiries can be made within a year of purchase at no additional , support charges apply. VT Software will normally only provide support forone person per license. VT Software will only provide support to registered you have a problem, please read the relevant section of this Guide first. Supportinformation is also available on the web at enquiries should be sent by email to Your emailshould include your name and postcode or the license number on the back of your CDcase so that your database record can be some circumstances it may also be helpful to attach the VT Transaction+ file you areworking on. In Microsoft Outlook a file can be attached to an email by dragging anddropping it from your Documents folder onto the email. Provided your email program isset up as the default mail program in Windows, you can also send a file as an emailattachment by choosing the Send As Email Attachment command from the File menu ofVT Transaction+ itself.