Frequently asked questions

Products

Licenses

Support

System requirements


Products

What products does VT Software sell?

VT Software produces accounting software. The principal products are:

  • VT Transaction+ - bookkeeping software

  • VT Final Accounts - accounts production and filing software

  • VT Cash Book - free cash accounting software

Is VT Software cloud based?

No. VT Software's programs are desktop applications that run on a PC. All data entered in the programs are written to data files, which are stored on your PC.

Who is VT Software for?

VT Software is popular with small to medium sized businesses, bookkeepers, and accountancy firms.

Typically, small to medium sized businesses and bookkeepers use VT Transaction+ to maintain the accounting records of a business and submit VAT returns.

VT Final Accounts is generally used by accountants to prepare their clients’ company accounts and submit them to Companies House.

What does VT Transaction+ do?

VT Transaction+ is a traditional desktop accounting software program, used to record a business’s transactions in ledger accounts and report its profit or loss, and financial position.

VAT returns can be submitted digitally to HMRC to comply with Making Tax Digital requirements.

Various types of transaction can be entered or imported. Sales invoices for products and services can be generated and emailed to customers. Bank statement files can also be imported, and bank reconciliations can be performed.

The Customers and Suppliers ledgers allow you to track balances owed from customers and owed to suppliers respectively. Various reports can be generated including the profit and loss, balance sheet, trial balance, transaction lists and ledger activity.

The reports can be easily printed to PDF files or pasted to a spreadsheet.

What types of business can use VT Transaction+?

A wide variety of businesses and organisations use VT Transaction+. There is a selection of standard chart of accounts templates for different types of entity, which can be modified by the user to suit their business or organisation:

  • Basic

  • Company

  • Home

  • LLP

  • Partnership

  • Self-employed

  • Sole Trader

  • Trust

How can I decide if VT Transaction+ is suitable for my business?

You can decide if VT Transaction+ is right for your business by taking a free 60 day trial and following the steps in the quick start guide to start using the software.

Is there a limit to the number of invoices that can be created in VT Transaction+?

There are no limits to the number of invoices that can be created, transactions that can be entered, VAT returns that can be submitted, or businesses that accounts can maintained for in VT Transaction+.

What does VT Final Accounts do?

VT Final Accounts allows you to prepare accounts for a company and submit them to Companies House. Accounts for unincorporated entities can also be produced.

VT Final Accounts operates within Microsoft Excel as Excel add-ins. The process for preparing the accounts can be as simple as entering some company information in a pre-formatted accounts Excel workbook, then either entering or importing a trial balance. VT Final Accounts integrates seamlessly with VT Transaction+ to import a trial balance. However, if you use a different system for bookkeeping, provided that you can export a trial balance from that system, you can import it into VT Final Accounts.

The accounts can be printed to a PDF file for distribution to a company’s members and stakeholders and can be converted to an iXBRL file and submitted to Companies House in a few clicks.

What types of accounts can VT Final Accounts produce?

VT Final Accounts has accounts templates for both incorporated and unincorporated entities:

Incorporated entities:

  • Micro-entity company, in accordance with FRS 105

  • Small company, in accordance with FRS 102 section 1A

  • Medium or large company, in accordance with FRS 102

  • Small LLP, in accordance with FRS 102 section 1A and SORP - Accounting by Limited Liability Partnerships

  • Dormant company

Unincorporated entities:

  • Sole trader

  • Partnership

How many clients can I produce accounts for in VT Final Accounts?

You can create an unlimited number of accounts in VT Final Accounts.

How can I decide if VT Final Accounts is suitable for my accountancy practice?

You can decide if VT Final Accounts is right for your practice by taking a free 60 day trial and following the steps in the quick start guide to start using the software.

What does VT Cash Book do?

VT Cash Book is a free cash accounting software application, which allows you to enter bank or cash payments and receipts. There is also a bank reconciliation function and financial reports can be generated.

It is suitable for small businesses and organisations who account for income and expenditure on a cash basis. Cash basis accounting means recording income and expenses when payment is received or made (rather than when they are invoiced).

How much does VT Software cost?

VT Software sells two packages:

  • VT Transaction+ - which includes VT Transaction+, VT Cash Book and VT MTD for Excel.

  • VT Accounts Suite - which includes VT Final Accounts, VT Filer, VT Fact Viewer, VT Transaction+, VT Cash Book and VT MTD for Excel.

The current annual subscription charges are shown on the prices page.

VT Cash book is free.

Is there a free trial?

Either package can be downloaded and used for free for 60 days until a license key must be purchased.

Download VT Accounts Suite (VT Final Accounts and VT Transaction+)

Download VT Transaction+

The trial versions provide full functionality, except for producing valid iXBRL files. The 60 day free trial can be taken once per computer.

What are the main differences between the packages?

The VT Transaction+ package includes the bookkeeping application - VT Transaction+.

The VT Accounts Suite includes VT Transaction+ and VT Final Accounts - the accounts production and filing application.

Both packages allow VAT returns to be submitted digitally to HMRC, however if you are an agent using an Agent Services Account, the VT Accounts Suite package is required.

Please see the prices page for a full comparison of the packages.

Licenses

How many users does a license cover?

A license is for one specific user only. Each additional user must purchase an additional license.

My business has 2 people who need to use the software, but not at the same time, do I need to buy an additional license?

Yes. A license is required for each user of the software, whether they use it simultaneously or not.

My business has 2 people who need to use the software, but the second user only uses it sometimes, do I need to buy an additional license?

Yes. A license is required for each user of the software, irrespective of the duration it is used for.

Can I give my accountant access to my data in VT Transaction+?

An accountant must have their own VT license in order to use VT Transaction+ and edit your data. However, if they only require read-only access, they do not need a license and can view your data using the free VT Cash Book program.

The data is held on specific files called VT Transaction+ files (ending in .vtr). These are saved by default to the Documents folder of your PC, unless you have chosen to save them elsewhere. The files can be emailed to or shared with your accountant in the same way as any file on your computer.

Can I transfer or sell my VT license to someone else?

No. licenses are strictly non-transferable.

Support

What support is available?

For instructions on how to use the software, please follow the steps in the quick start guides or the video guides.

For more comprehensive instructions, the full user guides cover all functionality of the software. A list of common help topics is also available.

If your question is not addressed in the guides, or you have a technical issue with the software, please call technical support on 0208 995 1142 or email support@vtsoftware.co.uk.

When is technical support available?

Technical support is available on Mondays to Fridays between 9am and 5pm, apart from bank holidays and some additional days over the Christmas period.

Does VT provide video guides?

Yes. Video guides are available on getting started using the software, with more to come soon.

Does VT provide training?

VT does not provide training on how to use the software. However, the software is very easy to use, and usage can be easily learnt by following the steps in the quick start guides or the video guides.

For more comprehensive instructions, the full user guides cover all functionality of the software.

Does VT provide accounting advice?

VT Software cannot advise on the correct accounting treatment for individual transactions. If you are in doubt, you should consult your accountant.

System requirements

What are the system requirements for VT Software?

VT Transaction+/VT Cash Book

  •  Windows 2000 later (Windows 7 or later if using the MTD for VAT features)

VT Final Accounts

  • Windows 2000 later (Windows 7 or later if using the MTD for VAT features)

  • Microsoft Excel, 32-bit desktop version

VT MTD for Excel

  • Windows 7 or later

  • Microsoft Excel, 32-bit desktop version

Does VT work on Windows 11?

Yes.

Does VT Software work on 64-bit Windows?

Yes. VT runs on both 32-bit and 64-bit Windows.

Does VT Final Accounts work on 64-bit Excel?

No. The 32-bit desktop version of Excel is required for VT Final Accounts.

Excel is not required for VT Transaction+ or VT Cash Book.

How do I use VT Final Accounts if I have 64-bit Excel?

If you are using the 64-bit version, your Microsoft Office/365 license provides both the 32-bit and 64-bit versions. You are therefore able to reinstall Office/365 as the 32-bit version, in order to use VT.

Please see Reinstall Office as the 32-bit version for instructions on how to reinstall Office.

Is it not better to have 64-bit Excel/Office than 32-bit?

Not necessarily, as it depends on what it is being used for. The 32-bit version of Excel is included in the most up-to-date versions of Office/365. Therefore the 64-bit version is not a replacement of the 32-bit version. Rather, they are two different versions of Office for different kinds of usage.

The 64-bit version of Office may perform better in certain circumstances, however if these are not relevant to you, there is probably no advantage of using 64-bit Office over 32-bit. Microsoft provide a list of circumstances where the 64-bit version performs better, at Choose between the 64-bit or 32-bit version of Office - Microsoft Support.

Does VT Sofware run on Apple Mac computers?

VT is for Windows only. However, some Mac users use software such as Parallels which allows Windows to run on a Mac. In theory this would allow VT to run indirectly on a Mac, however VT Software cannot guarantee this will work and cannot provide any support on this set up.

Does VT Software do online accounting software?

No. VT’s products are desktop applications and are not cloud based.

Do I need an internet connection to use VT Software?

Apart from when installing, submitting VAT returns to HMRC or accounts to Companies House, an internet connection is not required. This makes VT Software very quick to operate with no time lag.