HMRC’s Making Tax Digital required relevant transactional information to be submitted via approved accounting systems.
A bespoke transfer app provided the solution.
About Genesis Plant Marketing
Genesis Plant Marketing Limited is a marketing and intellectual property advisory business specialising in impartial and well-informed views on new horticultural and agricultural plants’ market potential.
With over 30 years trading experience, its variety portfolio now covers 250+ different plant species which it protects, markets and licenses on behalf of plant breeders across the globe.
Genesis works with a bespoke and very comprehensive software system that successfully operates their business model. The challenge arose with the need to transfer relevant accounting information for making tax digital.
From April 2021 HMRC’s making tax digital campaign required VAT figures to be uploaded via approved software, such as Sage, QuickBooks, Xero, and other proprietary systems.
Genesis was referred to Objective by a mutual friend and intermediary.
Due to complexities around using multiple currencies, Sage Accountant Plus was chosen to pass tax data on to HMRC.
Objective developed a one-way app to send ‘ready to post’ information from the Genesis system and to seamlessly transfer sales, purchases, royalty data, and miscellaneous payments & receipts via the Sage API.
The Results & Benefits
- Quick Processing – The app transfers the required accounting information at the click of a button.
- Monitoring Mechanism – Status of each transaction is automatically updated in the Genesis system.
- Safeguards in place – Any exceptions are recorded for immediate action.
Objective developed a transfer app from our system to Sage, to enable us to be Tax Digital compliant.
On completion for the user, it appears very simple. That said, due to the complexities of our multi product, multi currency business I do appreciate the intricacies in the background, and the programming skill to make it seem that way.