Earnings Tracker - Version 5.6 Overview
Version 5.6 of Earnings Tracker will be released in August 2009.
New features:
- Users can now generate comma separated values (csv) files from reports.
- Bank Interest is now included in the VAT Flat Rate Scheme calculation.
- An option is now available to include ‘other revenue’ in the VAT Flat Rate Scheme calculation.
In April, the HM Customs & Excise stated that bank interest should be included as income for the purpose of the VAT Flat Rate Scheme calculation. Here is an extract:
| 6.2 What must I include in my flat rate turnover? Your flat rate turnover is all the supplies your business makes, including VAT. This means all of the following: • …… • the value of exempt supplies, such as any rental income, bank interest on a business account or lottery commission. |
For this reason, we have decided to update Earnings Tracker and include bank interest in the calculation.
We have also added a check box when adding or editing monthly bookkeeping figures, enabling ‘other revenue’ to be either included in or excluded from the VAT Flat Rate Scheme calculation.
Earnings Tracker - FREE Accounting and Bookkeeping Software Tool for Contractors