Hello everybody,
I was hoping to get some clarity on SAGE's MTD functionality. I am on subscription software so am told its MTD compliant, however I run SAGE on EUR base currency.
I have asked SAGE in the past about this and was told that the current SAGE software functionality would currently submit my MTD VAT Returns EUR figures as if they were GBP which would be submitting incorrect data.
I was then told that there is a way to manually input the totals of each VAT box just before submission allowing me to effectively submit the correct GBP equivalent to my VAT Returns, this is great but defies the whole point of MTD does it not? However even if this was doable I would then need to run some correction journals and run my VAT return again on SAGE with the correct EUR figures... all very confusing.
Would it not be simple enough to add a functionality at the MTD VAT Return Submission software to detect if its being run on a base currency other than GBP and automatically convert the figures to GBP before submitting them? One would think this to be pretty standard functionality for the developers of a multi currency accounting software.
Has anybody else encountered this issue? Can anybody give some further clarification if this functionality is has been added to the latest version or if it will be added in time for the MTD dead line?
Thank you very much to all that may be able to shed some light on this.
Martin
