IRIS reveals latest enhancements in Autumn release
IRIS Software Group has today launched its Autumn Release, containing a multitude of enhancements, new features and updates.
The update forms part of our ongoing mission to improve the efficiency of accountancy practices and simplify day-to-day operations.
What’s new in the Autumn Release?
Among the most significant improvements are the following:
Community Interest Companies: You can now generate accounts for Community Interest Companies. These will include the CIC34 form to submit alongside the financial statements. Accounts will follow the same format as those prepared for standard Limited companies with the option of including the additional CIC34 form in either the simplified or detailed layout as required.
New R&D hub: This has been added inIRIS Business Tax for Ltd companies with periods ending after 1st April 2019. Simplified data entry and increased automation has streamlined the completion of R&D claims for your clients.
Capital Loss Restriction: For accounting periods ending on or after 1st April 2020, Ltd companies will only be able to offset 50% of their carried forward capital losses against their gains. The losses data entry has been updated to cater for this and will automatically calculate the maximum amount of losses that can be claimed in an accounting period.
Client data enhancement: within IRIS Practice Management we’ve built new fields to specify the date you started acting for clients and the date of termination. This enables you to easily confirm active clients and see which ex-clients can be deleted to comply with your data security rules.
Bulk import of expenses: a new feature in IRIS Time & Fees.If you have posted expenses to any third-party software (such as an accounting package), you can now import those postings in bulk direct from a csv file.
Compliance updates
IRIS Accountancy Suite has also been updated for all the latest legislative changes including:
- Pensions SORP update
- FRC taxonomy update 2019
- IFRS 16 – Leases
- ICAEW Audit Report update – Basis for Opinion – FRC ethical standards note reference
- Updated dividends databases
- Latest HMRC Specials & Exclusions
The full details of our Autumn updates can be found here: https://www.iris.co.uk/support/iris-accountancy-suite-support/iris-autumn-2019-release-v19-3/
