Raven Tracker 1.1.0

Version 1.1.0 of Raven Tracker is now available featuring a new cash sheet daily journal complaint with Making Tax Digital (MTD).

Notable Changes

  • Add Cash Sheet Daily Journal for Making Tax Digital
  • Add new File Options panel to Cash Sheet Export page
  • Fix cash sheet balance when actual cash on Sunday is zero
  • Display more lines of each message on System Log list page

What is Making Tax Digital?

Making Tax Digital (MTD) is a key part of the UK government’s plans to modernise the tax system. As of 1st April 2019, businesses with a taxable turnover above the VAT threshold of £85,000 are required to file their VAT returns electronically and are obligated to keep digital records of their transactions.

For owners and managers of pubs, clubs, restaurants and hotels, you must keep a digital record of your Daily Gross Takings (DGT). Raven Tracker features a new cash sheet daily journal export option complaint with Making Tax Digital requirements, where all sales and purchases are filed using daily figures.

There is also a new File Options panel on the Cash Sheet Export page, separating File Types, File Formats and whether the cash sheet are marked as processed once exported.

An Overview of Making Tax Digital (MTD) is available on the HMRC website.

Making Tax Digital

Miscellaneous Updates

The cash balance carried forward was ignored if the actual cash figure was ‘0’, and the calculated balance would be used instead. This has now been corrected, and the actual cash figure can now be zero.

The System Log list page now displays the first two lines of each log message in the Description column. The first two lines of a cash sheet export are also more informative.

Conclusion

For more information on Raven Tracker and online accountancy services, please contact PLS Management Services on 020 8977 6255.

For all other enquiries, please send us a message.

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