Digita practice software works its ‘magic’ on new breed of accountancy firm

EXMOUTH, October, 2011 – Digita software, developed by Thomson Reuters, is working its ‘magic’ on a new online accountancy practice.  MAGIC Accountancy Services only migrated to the Digita Practice Suite in July and already the firm is seeing the benefits, according to Lawrence Collins, Managing Partner. “It has all been remarkably easy,” he said and described the changeover as ‘very straight-forward with user-friendly tutorials’.

The catchy name MAGIC, like the firm, has hidden depths. The initials stand for ‘My Accountant has Got It Covered’ and MAGIC Accountancy Services are keen to ‘make a difference’ and change the perception many small businesses have of accountants. Lawrence has extensive experience of working as a financial controller and is a firm believer that monthly management accounts play a pivotal role in driving success. The service MAGIC offers is based on a fixed monthly fee and allows clients access to a virtual Finance Director who can highlight the key issues in real-time, instead of waiting until the end of the financial year to review progress.

Before switching to Digita, the firm had been using another brand of practice software and its poor iXBRL capability spurred Lawrence to look for an alternative. He explained: “The transition to iXBRL wasn’t a smooth process and despite persistent promises, the Corporation Tax application which we were using still wouldn’t work without loading further software. The team decided it was time for a change and having researched the market, we felt comfortable with the Digita approach and its range of products. “It is important to us that we work with like minded businesses and we liked everything about Digita; the brand and the way they communicate with us.”

As the firm provides a monthly service and operates on a fixed fee basis, it needs to be able to rely totally on the efficiency of its chosen practice software and despite it only being early days; MAGIC is already praising Digita for increasing productivity. It has produced in the region of ten sets of compliant iXBRL accounts and Lawrence summed up by saying: “It is working really well.”

Its fresh approach has secured MAGIC a place in the finals of the Accountancy Awards 2011. “Our focus is on adding value and providing our clients with a monthly service that until now has been out of the reach of many small businesses,” Lawrence concluded. “Digita demonstrates similar values to us: it is a pro-active company that adopts a highly personal approach.”

Digita software, developed by Thomson Reuters, is transforming the way accountancy practices operate in today’s competitive environment, helping to drive cost savings, improve productivity and to handle much more than just compliance.

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About Digita, part of Thomson Reuters

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Headquartered in New York, Tax & Accounting has major operations in Ann Arbor, Dallas, Hyderabad, London, Sydney, and Toronto.

For more information, go to http://thomsonreuters.com/products_services/taxacct/.

Digita, part of the tax and accounting business of Thomson Reuters, provides integrated tax-compliance and accounting software and services to accounting, tax and corporate finance professionals in accounting firms, corporations and legal practices. With a client base of over 15,000 users, ranging from sole practitioners to the Big Four firms, Digita is the only software accredited by Microsoft and the ICAEW.

www.digita.com

Magic Accountancy
https://www.magicaccounts.co.uk/

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