I asked a question in a ticket about why studiometry doesn't sync tax billed through to accounted. I wanted to comment on the answer but the ticket has strangely been deleted. The question was:
When invoices with taxable amounts are marked payed in Studiometry and then imported into accounted, the tax component isn't brought into accounted. IE i charge £100 for an hour at the computer less 20% VAT. Total invoiced is £120. Total paid is £120. When I import the transactions into accounted i only get the £100 as a transaction. Where is the VAT that has been paid?
The answer was:
Currently the taxes do not sync over from Studiometry to Accounted. This is because of the differences between how Studiometry and Accounted handle taxes. Your taxes in Accounted are specific expense/income accounts. What you can do is go to Studiometry's Accounting window > Tax Reports section, and then get the full number from there for a specified period, and then enter that into your designated tax account in Accounted. This would be an easy way to transfer taxes between the programs.
We hope to improve the functionality of this syncing to include taxes sometime in the near future.
Thanks,
Tom
My comment is that this is a real deal breaker and that oranged need to be much clearer about what they mean by syncing with regards to their software as this, according to a couple of accountants that I know, is a major flaw and means there is still a heck of a lot of manual entry to do. I purchased accounted based on my assumption that all relevant data would sync and that tax in accounted would be handled much better. I didn't use the trial time very well so I guess it's a case of tough luck for me.
So I'm now taking this opportunity to make a request to Oranged to make this a priority. I'm doing it here as the ticket was deleted and so that if there are any others that feel that the sync function is too limited to be of practical use to a company that charges taxes, they can add their voice to the topic.
I am a mac user in the UK and have found an alternative piece of bookkeeping software that whilst meaning extra manual entry, it handles tax appropriately and therefore might be a more sensible option.
