Objective developed a financial data app to provide a secure and efficient way to transfer accounting data; for digital tax compliance.
Context
A long-established business within the horticultural intellectual property sector manages a global portfolio of plant varieties, providing specialist marketing, licensing and commercial advisory services. With decades of industry experience and hundreds of plant species under management, the organisation relies on a comprehensive bespoke system to handle its operational and financial processes.
The Challenge
Although the existing system successfully supported the business model, a major challenge emerged with the introduction of HMRC’s Making Tax Digital (MTD) requirements.
From April 2021, VAT figures had to be submitted through approved accounting platforms such as Sage, QuickBooks or Xero.
The organisation needed a reliable and compliant way to transfer essential financial records, including transactions across multiple currencies, into Sage Accountant Plus without disrupting existing operations.
The Solution
Referred through a trusted intermediary, the business engaged Objective to develop a financial data transfer app designed specifically to bridge their internal system with Sage.
The bespoke one-way app securely sends ‘ready to post’ financial data directly to Sage Accountant Plus via the Sage API. This includes sales, purchases, royalty payments, and miscellaneous receipts ensuring the correct data reaches HMRC through an approved platform.
The Results & Benefits
- Fast Processing: The financial data transfer app moves all required accounting information at the click of a button.
- Automatic Status Updates: Each posted transaction is instantly updated within the internal system for full visibility.
- Built-In Safeguards: Any exceptions or discrepancies are logged for immediate action, reducing errors and maintaining compliance.