09 Apr 2018

IRIS spring 2018 release

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April 9th, 2018: The UK’s leading accountancy software provider has released its spring update, claiming to be one of the most extensive in the firm’s history. IRIS has added or enhanced features and compliance compatibility across its Accountancy Suite to increase customer effectiveness and productivity. 

The IRIS Accountancy Suite spring release also sees the continuation of Making Tax Digital (MTD) functionality along with enhancements to ensure accountants stay ahead of the new General Data Protection Regulations coming into effect from 25th May 2018. 

The spring 2018 release continues the user interface improvements begun in the autumn 2017 release. The initiative improves workflows to increase practice efficiencies, making it easier for users to access information and take appropriate actions. Other key updates include the ability to produce a new FRS 105 detailed balance sheet to micro entity accounts and complete e-filing of charity accounts. Online video training guides have been added to IRIS OpenLearning to maximise return on investment.

Improvements to client management allow a data comparison between IRIS and Companies House, highlighting any differences for client approval before submission. Within IRIS OpenSpace, secure e-signature approvals are now available and client working papers can be linked to files in IRIS Docs for a seamless paperless office experience. 

Commenting on the release, Sion Lewis, CEO of IRIS Accountancy Solutions says, “We are continuing our mission to provide best in class software solutions to help manage and grow practices. Alongside crucial legislative updates, we’ve added more features to our practice management suite improving productivity and enhancing workflows. New client management features provide practice efficiency through automation and integration which helps accountants clients’ businesses to run more effectively.” 

The IRIS Accountancy Suite Spring release comes in the wake of several announcements: the first quarterly filing submission in the MTD programme using IRIS Personal Tax was completed by Rowleys Chartered Accountants in February 2018. IRIS has been named as a software agent for HMRC’s MTD pilot and is one of the first vendors supporting agents with digital submissions. In March, IRIS launched an exclusive version of the TolleyLibrary Light Service, providing IRIS and PTP customers instant access to tax data and information, as well as HMRC manuals and UK Parliament Acts.

Sion Lewis continues, “The industry is continuing its transformation and IRIS is here to help guide our customers through the change. We continue to invest time and resources representing accountants in Government and industry forums to ensure practices of all sizes can maximise the opportunities as we digitise the economy. For accountants using IRIS, the spring release adds a wealth of features to help simplify their lives by making them more effective and more productive.”

ENDS

Notes to editors:

IRIS Accountancy Suite Spring release updates include:

Productivity enhancements

  • Updated user interface for Time and Fees products with new filters and usability features
  • IRIS accountants can now file charity accounts (including academies) electronically to Companies House 
  • Within practice management, enhanced client creation with an audit trail tracks who created the client and when 
  • IRIS has added the Scheduled End Date column to the Jobs tab on Staff Control Panel
  • Within practice management, all new clients from IRIS’ customer relationship management will be automatically be created in practice management
  • Within Time and Fees, new columns have been added to the Fees Account Display highlighting the matched amount and outstanding balance for each invoice
  • Selection of individual components can now be included in filleted accounts without submitting full accounts
  • Report L94 will now run as part of the full Lead Schedules report, LSL
  • When running dormant accounts for Companies following the 2015 Regulations, an option is available to choose whether the accounts are for members or the Registrar 
  • Working papers stored in IRIS Docs can now be linked as well as those in Communications Tracking 
  • The Pension Scheme audit reports have been updated, taking into account the changes in Practice Note 15 as published by the FRC in November 2017
  • Auditor has been updated in line with recent changes to ISA 250, ensuring the reports are up to date legislatively
  • A new option for a Client Data Review enables a quick comparison of the data held within IRIS for a company or LLP to the corresponding data held at Companies House
  • The Mortgages and Charges forms can now be submitted electronically rather than relying on post
  • When submitting forms to Companies House for both Directors and Persons of Significant Control, a new check is in place to verify the entered Country of Residence will be accepted
  • The Employment-related securities (ERS 2018) form has been updated to allow submissions to HMRC for the tax year 2017-18, before the 6th July deadline
  • IRIS has added an exception report into Personal Tax which will warns when a client’s pension contributions exceed their net relevant earnings 

Compliance 

FRS

  • A new detailed balance sheet which can be attached to FRS 105 micro entity accounts
  • Section 6 of FRS 102 has been enhanced to allow more choice to disclose information relevant to the situation
  • A statutory information note can now be included in FRS 105 accounts 

MTD

  • For voluntary filing under MTD, accountants can finalise submissions with the End of Period Summary submission

GDPR

  • Enhancements to the storing and movement of personal data throughout the products and when submitting to HMRC and Companies House
  • A new bulk delete feature, allowing accountants to quickly tidy up their IRIS database and remove any unnecessary client data

Tax Legislation and annual updates

  • Updated Dividends and RPI databases
  • All the relevant reports, forms, calculations and rates for the 2017/18 tax year 
  • Updates to cater for latest HMRC Specials & Exclusions
  • Updates to SA100, SA700, SA800, SA900, R40, R185 and CT600 forms
  • Updates to P11D, P46(car) and P11D(b) forms
  • Update to use HMRC latest schemas
  • Updates to Capital Allowances

 

About IRIS Accountancy Solutions

With over 17,000 customers, IRIS Accountancy Solutions exists to simplify the lives of accountants by making them more efficient and productive. Approximately, 44 per cent of all online submissions to HMRC and Companies House are made using IRIS software – the most efficient suite of integrated compliance, productivity and collaboration solutions for accountants to grow and evolve their practice.

IRIS Accountancy Solutions is a division of IRIS Software Group, the sixth largest privately-owned software supplier in the UK and one of the most trusted business-critical software and services providers in the UK today. Though its solutions, the group serves more than 80,000 SMEs, corporates, and payroll bureau customers across a wide range of UK industry sectors. IRIS Software Group offers the greatest range of specialist accountancy, financial management, human resource management and payroll solutions - delivered as a choice of integrated on premise software and cloud-based applications. These are managed under the leading IRIS, PTP, KashFlow, Keytime, Cascade, PS Financials, Results Squared, ParentMail and Earnie product brands. 

For more details visit iris.co.uk. Follow us on Twitter @irisaccountants @irispayroll @kashflow @CascadeHRMS @PSFinancials, @keytime, @ParentMail.

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