Full Feature List v11.7
IRIS Accountancy Suite Spring 2015 Release
IRIS Accountancy Suite is built around a single centralised database; the principle of capturing information once, making that information available to every module in the suite and every member of the practice. Universal access to information ensures that IRIS users achieve the greatest time savings and, in addition to satisfying their clients’ compliance requirements, can leverage the data to drive their business to greater profit and growth while delivering significantly better service to their clients.
The latest release of IRIS Accountancy Suite v11.7 enables users to keep ahead of the latest legislative changes, including the major overhaul of UK accounting standards, whilst delivering a number of productivity and efficiency gains across the complete suite.
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Enhancements to System Maintenance
We have redesigned the ‘Logical Locks’ screens to make it quicker and simpler to identify where an orphaned login or lock appears within IRIS, who it is associated with and clear the login or lock. The updated screens are also sortable, allowing staff and files to be reinstated quicker than ever.
IRIS Web Licencing
We have made a number of enhancements to IRIS web licencing including enabling web licencing for portable users and the ability to restore licences that have been replaced in error.
Added value enhancements
- The ‘What’s New’ information page within the main menu will no longer reopen once ‘do not show me this again’ has been selected
- Where windows in the suite remember their position, IRIS has improved the dual monitor support
- Enhancements within our Web Licensing to provide our customers with a simpler and more efficient method of managing your IRIS licences, reducing the time spent maintaining your IRIS setup
IRIS Accounts Production
FRS 101 and 102 – Phase 2
In our Autumn 2014 release we introduced the ability to create accounts under the new financial reporting standards FRS 101 & 102 including the option for early adoption.
Our Spring 2015 release sees the second phase of the New UK GAAP changes with the introduction of full automated iXBRL tagging of FRS101 and 102 Limited Company accounts. While these new taxonomies no longer contain a minimum tagging list for HMRC’s soft landing approach, the IRIS Compliance guarantee is second to none meaning that our software will identify and tag your accounts automatically against the full taxonomy, saving you the time and complexity of learning the intricacies of the new taxonomy.
As well as automated iXBRL tagging of FRS101 and 102 Limited Company accounts, following an update to the Statement of Recommended Practice (SORP) for Charities and Limited Liability Partnerships (LLPs) our Spring release also includes the ability to produce FRS 102 and FRSSE (2015) compliant accounts for both, including early adoption (for LLPs).
The new taxonomies from FRC specifically for Charities are still in draft, these will therefore be included in a future release of IRIS Accountancy Suite once they are finalised and released to us. (NB: iXBRL does not currently apply to LLPs).
Enhanced Search Capability in iXBRL tag editor
Within the iXBRL tag editor we have now included the ability to search on both legislative reference and concept label to make it as easy as possible to tag information in those rare circumstances where it is not automatically tagged for you.
Interactive Reporting Enhancements
IRIS Interactive Reports introduced in our autumn 2014 release have now been enhanced to provide you with a complete workflow for viewing, editing and finalising your accounts. Interactive Reports not only allow you to edit every aspect of your final accounts directly from the onscreen preview allowing instant access to the data source, but now you can preview the printout on screen, generate the output file as either a PDF or Microsoft Word document, finalise the accounts and access the iXBRL tagged versions from our single click toolbar.
On top of this we have extended the number of fields available to drill down from within the Interactive Reports and automatically post the closing balance of any posting adjustments to the suspense account. We have also enabled the ability to reset changed account descriptions back to the default.
These enhancements will speed up the review and creation of final accounts giving you everything you need as part of your standard workflow thus ensuring maximum efficiency.
Intelligent Search within the posting screen
Within the posting screen we have included an intelligent account search which means you can start typing within the ‘Account’ field and we will instantly pop up all matching values which will then narrow as you type more detail.
This new search works either by account number or description to help speed up the process of finding the correct account to post to.
- New iXBRL Taxonomies for FRS 101, FRS 102 & IFRS (Periods start on/after 01/01/2015)
- FRS 102 - Amendments to Pension Obligations - Section 28 Employee benefits (FRED 55)
- Revised Charities SORP for FRS 102 (Periods start on/after 01/01/2015)
- Revised Limited Liability Partnership SORP for FRS 102 (Periods starting on/after 01/01/2015)
- New option within the Audit Exemption Statement section to state that the exemption is for subsidiary companies only
Added value enhancements
- Income from fixed investments now includes exceptional items
- Income statement now shows all interest payable
- The statement of changes in equity now shows the share capital as issued in the year rather than brought forward for the restated comparative year
- Page numbers are now reflected correctly on the table of content in the Statement of total recognised gains and losses
- Accounts created and stored for filing with Companies House at a later date will now be visible on the created tab, ensuring filing is not missed
IRIS Company Secretarial
- Updated to use Companies House latest schemas
- HMRC form 42 replacement ERS 15 a new HMRC produced spreadsheet enabling electronic filing of employment related securities via their government gateway following the introduction of mandatory e-filing
- AD05 and LLAD05 Form Updates
- Update to Sensitive Names list - SI 2014 No. 3014
Added value enhancements
- Where shares are held jointly by more than 2 shareholders all names will now be visible on issued share resolutions
IRIS OpenAudit is constantly evolving to meet customers suggested enhancements and our April release introduces a number of usability enhancements to improve efficiency even further.
Enhanced workpaper navigator
With our new rapid navigation menu, simply click the arrow buttons to quickly and easily navigate through the working paper index including supporting documents.
This new feature will significantly improve the efficiency of the review process.
Bulk referencing and annotations
Have a comment, tick mark or supporting document that relates to more than one balance in a lead schedule? With our new bulk referencing and annotations feature you can select multiple accounts from a lead schedule and upload a supporting document, make comments or add tick marks to all quickly and efficiently.
Client List landing page
You are now able to set your Client List as your default landing page to gain quick access to your client information and immediately select the one to work on. Alternatively you are still able to select from the Dashboard, My Files, Activity Feeds, Recent Files, Review Points or Key Documents Completion as your default landing screen.
Review points enhancements
You can now quickly add a review point from any screen in an audit file by simply pressing the plus button on the Review Points tab. Further, we have updated the Roles and Permissions settings for review points added, meaning that now only users who created the review point can delete it or mark it as cleared.
As well as these key new features we have also enhanced the My Files search, provided a floating header in the B33 Audit Plan and A25-1 Completion Report to float at the top of the screen – meaning that you always can identify the column in question and provided the ability to edit sign-off dates. We have also enhanced access to supporting documentation.
IRIS Tax Solutions
IRIS Business Tax - Interactive CT600s
We have continued to expand the remit of Interactive Reporting into IRIS Business Tax with Interactive CT600s in the Spring 2015 release. Interactive CT600s allow you to edit your CT600 directly from the onscreen preview of the form, allowing instant access to change client details, disclosures, and notes as well as allowing you to add, amend or cancel tax postings. Interactive CT600s is available on the new CT600 version 3 of the form which is for periods starting on or after 1st April 2015.
This new feature will make significant efficiency improvements to the creation and review process, removing the need to navigate between screens to search for specific item you wish to change and providing you with a consistent way of working across IRIS Accounts Production, IRIS Personal Tax and now IRIS Business Tax.
IRIS Personal Tax - Integration with EARNIE Payroll
It is now possible to link employment records within Personal Tax to employment records that exist within EARNIE Payroll. Once this link is made; the earnings and tax deducted entered within EARNIE will automatically flow through to Personal Tax, streamlining the completion process of the individuals’ tax return.
- Updated Dividends, RPI, Tax Districts databases
- All the relevant reports, forms, calculations and rates for the 2014/15 tax year including R40
- Latest CT600 forms Latest CT taxonomies and computation updates thereof
- Increased Online Filing validation to help prevent HMRC rejections
- Updates to cater for latest HMRC Specials & Exclusions
- Updates to SA100, SA700, SA800, SA900, and R40 forms
- Updates to P11D, P9D, P46(Car) and P11D(b) forms
- Update to use HMRC latest schemas
Added value enhancements
- A new report is available within IRIS Personal Tax that details how Top Slicing Relief (TSR) has been calculated, making the review of the tax return and calculations easier and reducing the time spent in checking these values.
- It is possible to now link directly to the 20 new HMRC toolkits from the IRIS help pages within the software.
- Greater detail will now be provided if there is a problem creating an electronic tax return, this should help you pinpoint what is wrong and how to fix it.
- The posting screen within business tax is now resizable.
- Form 64-8 has been updated to the latest HMRC version
- High income child benefit charges and entries within the Residence Questionnaire are now visible on the schedules.
- In Trust Tax when producing an estate in administration Tax Return questions 21.1 & 21.2 are automatically completed and 21.3 & 21.4 remain blank.
- When calculating student loan repayments we have amended the calculation so each employer is dealt with separately and then merged to achieve the final values.
- An option for account periods ending on slightly different dates has been added to the business details screen for partnerships.
Upgrade to IRIS Docs 6.9
Our latest release of IRIS Docs is focused on providing even greater productivity to your practice. We have improved notifications so that you can now notify other users when you File and Save a document by sending a shortcut to their Intray.
Achieve greater time savings on day to day tasks through additional Search filters, improved Document Previews when navigating lists and the option to save emails on send. We’ve also made a number of upgrade and licence management improvements, making it even easier to get onto the latest version.
Publish IRIS Payroll Reports to Employers via IRIS OpenSpace
Securely deliver all payroll communications to employers using your own branded client portal, IRIS OpenSpace. Stop sending sensitive payroll information via insecure email; with the latest integration between all IRIS Payroll software (with the exception of IRIS PAYE Master) and IRIS OpenSpace you can ensure PAYE reports are delivered securely to employers in IRIS OpenSpace from directly within IRIS Payroll, with built in electronic approval saving you time and reducing costs. This new enhancement includes the following functionality :
- Store your IRIS OpenSpace credentials within IRIS Payroll
- Publish directly to existing IRIS OpenSpace users from within your normal workflow
- Automatically create new IRIS OpenSpace users from within your normal workflow
- Request electronic approval from within IRIS Payroll during your normal workflow
- Publish any IRIS Payroll report to the employer in IRIS OpenSpace
IRIS Payroll for Accountants
IRIS Payroll for Accountants has been updated for payroll year end 2014/2015. This update of the software includes some new features and enhancements, including :
- Latest Employment Allowance & Employer NI changes
- Full Payment Submission mandatory fields
- Statutory Adoption Pay
- Income Tax new rates & allowances
- Changes to Parental Leave
- Pension Output Files updates
Compliance Changes and Enhancements
KashFlow and KashFlow Payroll have been updated to introduce the latest legislation including:
- VAT MOSS returns in KashFlow
- Payroll legislation 2015-16 Update
- Automatic Enrolment Assessment and Communications
As part of the Spring Release, IRIS has also unveiled the KashFlow Top 5 Apps, which are the third party software integrations that drive efficiencies for both accountants and their clients in the cloud. This includes a new partnership with the GearShift forecasting application, to integrate powerful cash-flow forecasting, 'what-if' analysis and planning functionality into KashFlow.
This partnership allows accountants to build and advise on financial forecasts and scenarios based on real-time information in KashFlow, empowering clients to make smarter decisions and achieve their business goals.
For your clients on KashFlow, there are also key updates to help them better manage their businesses:
- Greater support for pensions Automatic Enrolment
- Introduction of VAT MOSS returns creation
- The launch of KashFlow Canvass, a brand-new online user feedback and discussion forum