MTD Membership Software

Our mission to steer club owners away from the stressful, time-consuming task of manual sports club paperwork is going well. With sports software helping with so many aspects of club management nowadays, we’re so keen to show users
just how using Coacha can help them.

Membership Software
and Making Tax Digital (MTD)

Adding to the list of ‘things that Coacha helps with’ are accounts and taxes. Yes, taxes!

Now this may not apply to all sports clubs as we know that many of our userbase are non-profit and there are some exemptions to organisations who need to pay VAT. But for those clubs who are eligible to pay VAT, or those approaching the threshold, you’ll want to carry on reading.

Watch your club take off!

Sorting out your admin gives you more time to focus on coaching

What is MTD?

HMRC are launching a new initiative called Making Tax Digital from April 1st 2019. This initiative requires organisations who earn over the tax threshold (£85,000) to use software to record and submit VAT returns.

As part of MTD there are a few requirements which include financial information being automatically logged into your digital tax account and submitting a minimum of once per quarter via an app that’s linked to your digital tax account.

How sports club management software can help

Using a piece of software that specifically helps with sports club management can do wonders for your sports club. It can save you time, money and stress. It’s an amazing way of keeping all of your club administration in one safe place.

If you use Coacha to manage your finances, you’ll be using Stripe. Coacha simply acts as an interface to set up your payments through Stripe in a simple way, whilst recording the statuses of all of your transactions. The beauty of setting your finances up through Coacha is that it’s incredibly simple to use and keep track of who’s paid what. Plus you get to manage all other aspects of your club management like registers, classes, GDPR, emergency information etc.

So, at the moment users will set their finances up within Coacha and then the finances will appear in their Stripe accounts on the chosen payment date. Perfect. But how do those finances get into your digital tax account?

Coacha > Stripe > Missing Link > Digital Tax Account

We think that the best thing you could do is sign up to a piece of accounting software. This type of software will connect to your Stripe account. Then when your Stripe account receives payments, they will automatically filter into the accounting software and record them without you having to manually input anything. Then you (or your accountant) can easily make accurate VAT submissions into your Digital Tax Account.

Coacha > Stripe > Accounting Software > Digital Tax Account

Is there a piece of software that does it all?

We’ve done our research and so far, we can’t find one single piece of software which allows club management, collection of finances and accountancy. These 3 types of software are totally unique in their own respects. However, they integrate with each other incredibly well.

We imagine it would be very complicated (not to mention expensive) to develop software that covered all 3 of these specialities.

What types of accounting software is out there?

The HMRC have published a list of software suppliers that specialise in tax which you can find here. However, one of the most popular and well-reviewed pieces of software that we’re aware of is Xero. If you have an accountant, they will more than likely be able to advise you on which route to take. Most software will offer free trials too, so you can get a feel for the interface and usability before you commit.