Please make it known when the VAT return can account for EU trading. Would love to switch to BulletHQ.

VAT return can account for EU trading – Free Online Small Business Accounting Software Questions & Answers

I’ve had a play around with BulletHQ and it seems amazing. I really wish it was suitable for a business which trades between the UK and Ireland (our vat returns are a little more complicated). I would use it in a heartbeat. Please let me know if this ever gets covered off. I certainly recommend it to any service business based and trading in Ireland. It really is a well thought out piece of software and the customer service is 100%.

1 answer

Peter Connor Staff February 10, 2016

Thanks – I’m not sure what you mean by UK/Ireland. Bullet is a full multi currency accounting product, right down to the bank account. We work out FX gain/loss etc.
If you let me know I’ll have a look.

  1. cloudharr February 10, 2016
    Thanks for commenting. It was the vat return which I was referring to, specifically the 'intrastat' part of the form denoting trade between EU countries. There's no option to specify which country a purchase took place in. It doesn't seem like it can be done automatically.
  2. Peter Connor February 10, 2016

    Oh you're talking about VAT RTD. Indeed we don't generate any RTD returns it's a return that Revenue have ignored till now.

    We will be introducing a report that you can run that will help you do your VAT RTD a lot easier if that is any help.

  3. cloudharr February 11, 2016

    No, I mean the actual normal vat returns, specifically boxes E1 and E2.

    There seems to be no vat code to accurately record an EU purchase where vat was not paid. The only option was 'no vat', meaning the transaction won't even show up on a vat return. If there is a workaround I'd love to know.

    On the matter of RTD, I know it doesn't generate returns and would be very interested to know when you plan to introduce a report to make it easier?

    Thank you.
  4. Peter Connor February 11, 2016

    Up to now people couldn't claim VAT on non EU purchases.

    We won't be building any more tax returns people don't value them and they're complex to do. So we'll just add line items & country to the invoice/bill export.

    That's enough to create filters in excel to manually workout your VAT RTD.

    That's probably about it.

  5. cloudharr February 11, 2016

    When will you be adding in that option to the invoice/bill export?
  6. Peter Connor February 11, 2016
    Don't have a definite date. It's an annual return, Revenue are still working out how best to work it. Maybe next year.
  7. cloudharr February 11, 2016
    Just to be clear, you won't be adding in the 'line items & country to the invoice/bill export' until next year?
  8. Peter Connor February 11, 2016
    No sure when could be tomorrow could be next year. It's not a high priority, we got very little Q's about it this year and this was the first year it was forced by Revenue.

    Small Businesses are struggling with more daily issues then an annual return. So that's where we focus, if that makes sense.

  9. cloudharr February 17, 2016
    Just to check, do you advise I should just ignore boxes E1 and E2 in my bi-monthly vat return?

  10. Peter Connor February 17, 2016
    I can't advise on anything like that - we're not accountants I'm afraid :(
  11. cloudharr February 17, 2016
    Well, I would prefer to fill it in. How do people do that on Bullet? Does it just get done manually after a vat report has been produced in Bullet?
  12. Peter Connor February 17, 2016
    It's nothing to do with Bullet. You just enter the tax number into Bullet and we'll generate the VAT return. You can change the periods that the vat is paid, that's pretty much it.

    If you're unsure you should seek advice.
  13. cloudharr February 17, 2016
    As far as I'm aware your vat return doesn't fill in those 2 boxes. That's why I need to check how your other customers handle this. I can't seek advice from my own accountant about your system - she'll know nothing about it.
  14. Peter Connor February 17, 2016
    You're talking about VAT RTD. You're correct we don't do the VAT RTD at the moment. They just handle it by manually doing the VAT RTD. That's it.
  15. cloudharr February 17, 2016
    I'm honestly not. This is a jpeg to a link of a standard Irish vat return:
    Can you see the boxes ES1 and ES2? It's not an RTD report.
  16. Peter Connor February 17, 2016
    Can't help you there, like I mentioned before it's a Q for your accountant. Just know we don't generate the VAT RTD returns.

    Thanks and good luck. Pete
  17. cloudharr February 17, 2016
    Sorry, I just can't believe you don't know what it is!

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