IRIS Elements gets even better with these improvements

Joined-up accounting data? Done. A platform you can take practically anywhere? Ready to go.

Nevertheless, our IRIS Elements team never stops seeking ways to make life easier for accountants. It doesn’t matter how big your accountancy firm is, nor how complex your clients are, we’re always looking for new solutions to help you.

Here are some recent improvements that enable you to link data, easily stay compliant and enjoy more efficiency.

IRIS Elements Tax

Bulk submission of tax returns

Filing tax returns one at a time can be a tedious process. With the new bulk submission feature, you can select multiple tax returns ready for filing and submit them all at once. This update will significantly reduce the time spent on submissions, so you can focus on more important tasks.

Jointly held income

Managing jointly held income, such as for married couples who share a bank account, is easier thanks to this update. You can open the interest record on one client, split the income, and automatically populate the partner’s tax return.

Multiple trades for corporation tax

For limited companies with more than one trade, this update lets you handle and view data separately for a better overview.

CT600K form support for restitution tax

Elements has an update to include support for the CT600K form, making the process for handling restitution tax a more polished process.

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IRIS Elements Accounts Production

Full FRS 102 accounts format for IRIS Elements Enterprise

We’re excited to announce the release of full FRS 102 accounts formats for enterprise-level accounts production. This update includes major reports such as the strategic report, statement of changes in equity, and a cash flow statement. These accounts are fully iXBRL tagged and ready for submission to Companies House and HMRC.

Customisation of iXBRL tags

We wanted IRIS Elements users to be able to customise iXBRL tags for more flexible reporting.

Revised or amended accounts (IRIS Elements Professional and Enterprise)

We’ve introduced a dedicated workflow for revised or amended accounts. This feature retains your original accounts and includes the correct taxonomies for electronic filing. It ensures compliance and makes the process seamless.

Farm accounts

The farm accounts feature offers a dedicated chart of accounts specific to farming activities. You get detailed tracking and reporting of income and expenses related to arable, livestock, and other business types within a single setup.

An upgraded user interface

We’ve improved the user interface based on customer feedback. A new “tree view” down the left side of the folder structure provides better navigation, making it easier to access data screens and reports.

Disclosure improvements

We’ve added new data screens for FRS 102 1A, including critical accounting judgments, estimates, financial instruments, exceptional items, and more.

Automatic attachment of accounts

To save time, the new automatic attachment feature allows you to link accounts to the corresponding CT600 and computation equivalent in IRIS Elements Tax.

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Productivity improvements

Improved Anti-Money Laundering (AML) permissions

We’ve made it easier to manage risk assessments by allowing individuals with owner or admin privileges to sign off assessments, reducing the burden on MLROs. Our team has also added an AML usage widget to track the number of checks being made.

Client portal notifications

Clients will now receive clearer notifications when they sign documents, ensuring they know their submission has been accepted.

Task calendar filters

The new filter options for task calendars help you manage your projects more effectively by allowing you to filter overdue, due, and completed work.

Staging dates in payroll

To save you time, we’ve integrated Pensions Regulator data. It will automatically populate staging dates within your payroll workflows.

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