Data and functionality Secure transmission of data for online transactions is via a Thawte SSL web server certificate. The visual treatment is similar to that found in the Windows environment, featuring a typical management snapshot, lists of outstanding sales and purchase invoices and the current bank balance. "The Windows-style drop-down menus mirror desktop accounting packages...Reports are generated as PDFs almost instantly and displayed automatically. The presentation of reports and the range of report options look very much like QuickBooks, so there's instant familiarity for most accountants." Transactions — such as invoices, bank entries or journals — can be posted singly or in batches. "Liberty supports the use of foreign currencies for invoices and customer statements (and can automatically calculate and post exchange rate gains and losses) and as well as having built-in stock control and payroll, it is unusual in offering the tools required for P11D compliance (including section 336 claims)...It captures P11D-related information at a transaction level, pulls the figures together on screen and then produces an HMRC approved facsimile of the P11D form, for ‘one click’ electronic filing." Value Added Tax Liberty was the first online accounting provider to offer VAT functionality, including transactions such as European Union acquisitions, and production of the European Community Sales List (form VAT 101). Standard and cash accounting VAT schemes are supported, as well as flat-rate VAT (calculated on a transaction basis). According to David Harbron at the Fenchurch Group of commercial and residential property development companies: "When the UK VAT rate rose to 20% in the New Year, [I] knew that Liberty would immediately be updated to reflect the increase, and that the automatic invoices the Fenchurch Group had set up for its tenants would all go out with the correct VAT rate on." References Accounting software Accounting in the United Kingdom