IRIS Spring 2020 Release v20.1

Overview

The IRIS Accountancy Suite Spring release Version 20.1 not only focuses on all the latest legislative updates to ensure that you remain fully compliant and ahead of the curve, but also includes a number of user experience improvements, such as Interactive Charity and Academy reports, enhancements to staff maintenance and a new online training platform designed to ensure you get the maximum return on your investment.


IRIS Accounts Production

Interactive Charity and Academy Reports

Our new interactive Charity and Academy reports allow you to edit client details, account descriptions, disclosures and notes and add, amend or cancel postings direct from the onscreen preview. The report output for has been completely rewritten and significantly improves the speed and stability when generating final accounts and associated reports. During our quality assurance process, final accounts reports were on average 78% quicker to produce. The new reports also allow future report updates to be deployed more efficiently.


Legislative Updates

ISA (UK) 570 Going Concern
New Data screens and corresponding report outputs have been included to comply with revised legislation.

Charity SORP (FRS102) 2019 – published in Oct 2019.

IFRS9 Financial Instruments
This reporting standard has now been included in our FRS101 template, new data screens have been added together with corresponding report outputs to support the disclosure requirements to the Income Statement and the Statement of Financial Position.

Companies (Miscellaneous Reporting) Regulations 2018 for accounting period beginning on or after 1 January 2019:

  • Engagement with employees
  • Engagement with suppliers, customer and others
  • Updated Strategic directors and trustees reports Section 172(1)

Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015
From 11th May 2020 mandatory notes and disclosure for statutory accounts comes into force for the Average number of employees for Small and Micro Entity companies for accounting periods starting on or after 1st January 2016. IRIS Accounts Production validations will now prompt for this information.

FRS105 Accounts Report Update

The report output now includes a non-statutory detailed Profit and Loss account to help explain and understand the financial statements.


Company Secretarial

Within the Companies House Online comparison Service (CHOS) we have now included access to the confirmation statement made up date that can be subsequently compared and if needed imported into the software to help reduce re-keying of information.


IRIS Business Tax

Capital Allowance enhancements

The capital allowances module has been updated to allow you to claim either Research and Development Allowance or Electric charge point allowance on your assets. 100% allowance will be claimed on assets with one of these options selected. Our Tax computation has also been updated to reflect these changes.


All Tax

Tax Legislation and annual updates

  • Tax Year 2019/20 forms now available for printing and submitting to HMRC
  • Updated Dividends databases
  • Updates to SA100, SA700, SA800, SA900, R40, R185 and CT600 forms
  • All the updated reports, calculations and rates for the 2019/20 tax year
  • Updates to cater for latest HMRC Specials & Exclusions
  • Updates to P11D, P46(Car) and P11D(b) forms
  • Update to use HMRC latest schemas
  • Updates to Capital Allowances

IRIS General

Permissions changes

Customers will now have the ability to copy existing staff member permissions to a new staff member, saving time when adding new staff.


Productivity

Timesheet permissions
We have also added privileges that restrict who can open/view timesheets by partner and manager so that you can restrict access to timesheets.

Engagement letter
We have updated the Engagement letter so that it now refers to the correct legislative bodies.


IRIS AML

AML15 Directive Updates

  • 'Senior person' has been added as a new relationship type
  • Added a 'Report PSC Description' button that links directly to the Companies House online form
  • Updated the policies and procedures
  • New questions added to the risk wizard

IRIS Training Centre

IRIS Training Centre is the easy way to introduce new staff to IRIS software, ensure your workforce are completely up to speed with the latest features and enhancements; and ensure you are maximizing the return on your investment.​
It includes 105 modules averaging <5 mins giving easy bite size courses that make over 11 hours of accredited CPD training.
For more information and to register, click here.