1. IRIS acquisition of Taxfiler
Accountex coincided with a key assertion for IRIS Software Group, as it revealed the purchase of Taxfiler, the cloud tax and debts company for small accountancy practices.
CEO of IRIS Accountancy Solutions Sion Lewis stated that the acquisition presents “a thrilling possibility for us to provide a brand new era of specialists tax and accounts compliance inside the cloud the use of a product particular to their needs.”
He introduced: “We understand the requirements and demanding situations of small practices are distinctive to those of large ones and look forward to simplifying the lives of greater accountants to assist them in becoming greater effective and productive.”
IRIS pursuits to offer small practices and tax sellers a “friction-free, digital report compliance solution” with the aid of integrating Taxfiler with KashFlow and OpenSpace. This comes as businesses look to conform with Making Tax Digital.
Taxfiler founder James Reeves said that the cloud company changed into “extremely joyful to join the team and with the plans to boost up product improvement and awareness on first-class in elegance consumer enjoy, we look forward to persevering with to build the brand new technology of cloud-based totally compliance software program for small practices.”
The acquisition way that IRIS will guide “each size of practice” – from micro organizations to SMEs to large regional companies and the Big Four.
In current months, IRIS has been named a software agent for HMRC’s MTD pilot program, and the first quarterly submitting submission for MTD using IRIS Personal Tax has been finished. The era issuer has also released Accountant Go – a practice-branded app allowing accountants to have interaction with their customers – and has acquired Star Computers in a bid to offer payroll and HR solutions in the IRIS Human Capital Management portfolio.
2. Sage update to MTD and GDPR associated offerings
Announcing updates to its services and products at Accountex, Sage said that Sage Business Cloud Accounting and Sage 50cloud are prepared for MTD with new capability allowing OCR receipt seize, Stripe and Paypal integration, and an advanced cellular enjoy.
The company is likewise offering corporations flexibility about cloud adoption, with alternatives to be had for embracing a “full cloud experience” or “preserving the familiarity of a desktop environment at the same time as taking those first steps to the cloud.”
About compliance with GDPR, the Sage 50 Cloud Payroll consists of a new Online Bureau, presenting clients with a comfortable cloud portal to enter employee details, and timesheets and absences, while also giving get admission to payslips, documents, and reports. The gadget “ensures safety for non-public facts,” as well as helping customers with GDPR necessities. It also reduces mistakes, saving organizations about one hour in keeping with consumers and a week in time spent on management.
3. Digital invoice seize with Compleat
Complete Software introduced the discharge of its self-service buy bill automation software program iCompleatInvoice.
The Software-as-a-Service (SaaS) software combines virtual invoice seize and approval automation to similarly the capability of accounting software or agency resource making plans programs. Compleat stated that the machine supplies actual-time information for coin flow control, decreasing management expenses with the aid of up to ninety%. The software leverages AI and gadget mastering to automate 60-80% of repetitive invoice coding and approval methods.
Neil Robertson, CEO of Compleat Software, said: “We trust it’s time to provide corporations a low-cost, competitive, self-carrier solution.”
He added: “To open a new market for cease users and accounting practices, we used our relatively a hit procure to pay corporation solution, complete, for digital invoice capture to remove guide approaches that upload no cost.”
4. Insight into MTD from Intuit Quickbooks
Research launched through Intuit Quickbooks discovered that at the same time as seventy five% of UK accountants have heard of MTD law, 30% of these people were doubtful on what the initial approach for their exercise, highlighting a “disconnect among awareness of the regulation and an expertise of its implications,” the software issuer stated.
Currently, 33% of accountants’ clients use cloud accounting software programs, but 23% have stated that none of their clients use cloud software programs – emphasising that migration to virtual platforms is the important challenge of many accountants within the run MTD.
“Accounting has historically been a workout of looking inside the rearview reflect, but cloud technology empowers accountants with real-time insights that may be used to convert their position from bookkeeper to economic marketing consultant,” said Nick Williams, head of enterprise development accountants at Intuit QuickBooks.
“Introducing new client behaviour, instructing workforce, and taking a proactive approach to drawing close rules isn’t continually smooth, but the time to get ahead is now.”
Dates for 2019: Accountex 2019 will take place at the ExCeL London on 1-2 May. Accountex Summit North will take region on 10 September 2019 at Manchester Central.