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Can anyone recommend accounts production software that also does iXBRL for a small start up practice please?

Hello I need to prepare and produce Limited Company accounts and a corporation tax return for my first limited company client. Can anyone recommend a good, affordable piece of software that does this and the iXBRL tagging to me? Thank you

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28th Aug 2011 15:34

Try VT....

Try VT for a start if your budget is reasonable.   You'll get a free cashbook version that you can install at your client's place and get a backup at every interval and update your full version.

Gladstone

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By occca
28th Aug 2011 15:35

Another one for VT

Why not use VT for the accounts and then HMRC software for filing the return?

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28th Aug 2011 16:47

VT does exactly what it says on 'the tin'.

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By Flash Gordon
28th Aug 2011 16:50

VT again

Go with VT for the accounts and probably HMRC is your best bet for CT if you've only the one ltd company client.

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28th Aug 2011 17:25

Another vote for VT

It produces iXBRL without problem.

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29th Aug 2011 10:24

Yet another one for VT

Great system; fantastic price

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By noggs
29th Aug 2011 13:52

Or you could try.....

We use Relate Software (Dublin based but fully UK compliant) - works a treat

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29th Aug 2011 15:57

Another vote for VT Software

Another vote for VT here.  It does the job with no mess and no fuss.

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29th Aug 2011 19:05

there are others to consider

Post-GFC many people on here are recommending  VT and rightly so. To be fair, I think this was also the case prior to the GFC. However, you should also consider PTP Iris accounts production - starter pack up to 10 clients for £100.

Also Sage Instant Accounts Production - again a starter version available up to 10 clients priced at £100.

The Relate Software (mentioned by mr. noggs above) may also be worth looking at, but I am not sure of the costings on this one, so may not be suitable for a starter practice.

The people who run the company were involved with Apex accounts production. This was taken over by Sage and has become Sage Accounts Production. The Sage Instant Accounts Production is the same product, but it has restrictions on editing the accounts, although you can output the accounts to Word to edit, if required.

Taxcalc are also meant to be bringing out an accounts production package, but the way they keep delaying it, we might be looking at 2014 or 2015 before it becomes available.

There are others who are worth a mention, and I apologise for leaving them out.

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30th Aug 2011 09:18

why

By paying not a great deal more you buy a product ( VT) with capacity for an unlimited numbers of cases from the very begining.

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By cmg
29th Aug 2011 18:57

Taxcalc AP is fairly close to release

The new Taxcalc accounts production package should actually be pretty close to release, contrary to the comment immediately above, and might be worth waiting for. I'm getting a copy to beta test this week, so presumably it should be out in the not-to-distant future now.

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29th Aug 2011 20:25

I've looked at most and

IRIS is by far the best, HOWEVER the price is not justified in my book. So yet again boring old VT gets my vote.

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By Jobsys
30th Aug 2011 09:34

PTP Versus VT

I have spent MAY to JULY wasting hours with Iris Accounts Production. I ditched it in August for VT. Have not looked back since. 

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30th Aug 2011 10:00

Iris (PTP badged version)

I am beta testing this product at the moment, and have to say I am impressed. I had used most of the packages over the years but not Iris. It is easy to use and a set of accounts can be produced rapidly.

On the downside, I have a couple of concerns. Firstly, the data entry. It's OK, but not as fast as some others.

Also, no backup facility appears to come with the programme, so this would need sorting out.

The programme is linked to SQL and i think if part of the system became corrupted you could lose everything.

Jobsys (above), you say you wasted many hours between May and July on PTP. The reason for this probably is that your paws kept getting stuck in the keyboard and pressing the wrong keys etc.

 

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30th Aug 2011 12:04

well you could go integrated

and look at Absolute especially if you need a liked co tax program -  a little quirky but dead easy to use

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Been hearing things about TaxCalc AP

I've been curious about what's happening to the TaxCalc Hub, but am given to understand that it's about to re-emerge in a new guise, and linked to accounts production. And I don't think you'll have to wait very long for it to arrive.

Most of the other products mentioned (aside from Absolute) have their own dedicated discussion groups on AccountingWEB. Would any of you here join a TaxCalc group if we started one?

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By Tosie
30th Aug 2011 18:16

To John Stokdyk

I would love a tax calc discussion group.

many thanks

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VT

I've been using VT for a couple of months ... no problems at all. They give you a 60 day free trial, so you can try before you buy as well. 

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30th Aug 2011 15:44

Yes. Arkk Solutions is the UK's leading independent iXBRL specialist.

They offer a Blended Solutions where they prepare your first year accounts and tag them, then they send them to you the next year and you can easily edit them to make them applicable for the following year, saving you money.

Check out some of their other iXBRL services here: http://www.arkksolutions.com/

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By Flash Gordon
30th Aug 2011 16:55

Taxcalc hub

Is the hub still going to be given out free to those of us suckers who believed that if we purchased the tax software a couple of years ago we'd get it free or has that plan been thoroughly shelved? Don't get me wrong I'm happy enough with their tax software but the reason I bought it when I did was to qualify for the free hub which hasn't been heard of since.... I'm looking forward to when VT bring out their CT program (next yr I think) - their communication is miles better!!

 

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30th Aug 2011 23:07

ABsolute

It may be ok for iXbrl filing but is crap when it comes to decent layout to give to clients. 

Also to say it is fully integrated is very misleading.

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By Old Greying Accountant
31st Aug 2011 09:42

Language Timothy!

philhendy wrote:

It may be ok for iXbrl filing but is crap when it comes to decent layout to give to clients. 

Also to say it is fully integrated is very misleading.

 

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06th Sep 2011 13:17

Which software are you talking about here?

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By cmg
31st Aug 2011 20:52

Yes, I'd join a Taxcalc group

. . . . . but as one of Taxcalc's beta testers, I'd be a viewer rather than a contributor, because of their confidentiality agreement (which I'm very comfortable with, and which, as you would expect, I will honour the letter).

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31st Aug 2011 21:47

hendy has a huge bee in his bonnett

absolute is quirky but fine - his commenst have been aired before and the replies given by david forbes are more than fair

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01st Sep 2011 10:10

Very true

carnmores wrote:

absolute is quirky but fine - his commenst have been aired before and the replies given by david forbes are more than fair

 

The public comments have been fine when resolutions have been found, invariably they are not forthcoming. Quirky is without doubt a massive understatement!!!

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