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Forbes accredited for iXBRL filing

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10th Nov 2009
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Milton Keynes-based tax and practice software house Forbes Computer has been approved by HMRC to file Corporation Tax returns including accounts and computations in the in “inline” iXBRL format.

Forbes has made a habit of pioneering XBRL techniques, having been the first company in the UK to file abbreviated accounts with Companies House in 2005. Since then, founder David Forbes has liaised closely with HMRC and rival software houses on how to implement an XBRL-based standard to submit machine-readable accounts and computations to HMRC, while retaining the documents’ visual integrity for human users.

With HMRC’s approval, the £335 Forbes Accounts application will be ready to handle online CT submissions when the tax department’s new filing mechanism goes live in a couple of weeks’ time. The developer has also entered into a joint venture with Indian XBRL outsourcer Taurus. Their new DataPlus service will take final accounts files from practitioners and tag them up in iXBRL format ready for submission once HMRC's online mechanism goes live.

Forbes predicted that the mandatory requirement to submit accompanying data for CT600 forms from April 2011 will have as almost as big an impact on the software industry as Self Assessment in 1997.

“A lot of accountants use Excel or Word to produce accounts and many others are using old applications such as Auditman for DOS. Clearly they’re not going to be able to do iXBRL. A lot of the smaller software providers won’t have the skills to do it and some of the big boys with old technology underpinning their software will struggle as well,” Forbes predicted.

Many firms will move to get their tax and accounts production software from a single supplier, which is why Forbes introduced its final accounts application a couple of years ago.

The main challenge for software companies is to adapting their programs to the 4,000 or so definitions within HMRC’s XBRL taxonomy. Once the industry has embraced the data exchange standard, “XBRL should theoretically make it easier to get best of breed soutions,” Forbes said. “But will be a while before that’s possible.”

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By User deleted
10th Nov 2009 17:06

Comment edited

An AccountingWEB.co.uk member made several Anonymous postings on this article. However, as the site's terms and conditions make perfectly clear, the point of this commenting mechanism is not to let people make unsubstantiated comments that could be deemed defamatory or libellous.

As a result, we have edited the comments posted. If the person concerned would like to discuss their issues privately, they can get in touch with me directly via the private messaging system or email as john at accountingweb.co.uk and we will see if it's possible to put your point across in an acceptable manner.
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John Stokdyk, Technology editor

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By User deleted
10th Nov 2009 19:03

Lets all be careful out there !

Why does the Tech ed protect forbes ?

[Comment edited - Tech Ed].

 

 

 

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By User deleted
10th Nov 2009 19:05

Aaaz
The tech ed was asked about Forbes but to date no reply has been received !

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By daveforbes
10th Nov 2009 23:29

Mr Angry spends his spare making disparaging comments about our software on  Accountingweb . I intend to reference back to this post every time he does as I feel his single handed effort is giving a misleading impression. For people that want to decide for themselves they can try the software yourself www.tax.co.uk/products/download.htm

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John Stokdyk, AccountingWEB head of insight
By John Stokdyk
11th Nov 2009 09:15

Tech ed replies

8:03pm - Why does the Tech ed protect forbes ?

8:05pm - The tech ed was asked about Forbes but to date no reply has been received!

As I explained very clearly, the Tech Ed acted to protect the interests of AccountingWEB and the anonymous poster themselves rather than Forbes. AccountingWEB has terms and conditions for members that are based on professional courtesy and the law of the land. Please abide by those rules. The invitation to discuss your situation and find a way to put the facts forward in a more reasonable manner remains open.
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John Stokdyk, Technology editor

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By User deleted
11th Nov 2009 10:57

Has the software been tested by the commentators ?

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John Stokdyk, AccountingWEB head of insight
By John Stokdyk
11th Nov 2009 13:10

Please try to use this forum in a constructive way

Repeatedly posting semi-coherent rants against a software provider (and me) will not get you anywhere - except perhaps banned from AccountingWEB for abuse. It's quite difficult to get to reach any meaningful conclusion from your posts so far. On the points you've raised, I would answer:

1. Yes, someone has independently accredited this product - HMRC.

2. No, I haven't road-tested the product yet. This is a news report that it exists. While I aspire to get my hands on or at least take a look at every software product in the market, this is not humanly possible. This is where AccountingWEB members can help, if they come online to share honest, accurate and constructive advice about the applications they know.

Anonymous, please step back from the keyboard for a minute, take a deep breath and count to 10. Then perhaps drop me a line via the private messaging system on AccountingWEB and we'll try to get to the bottom of your complaints. If you aren't willing to do this, perhaps you could stop taking up so much of our time with pointless posts.
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John Stokdyk, Technology editor

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By User deleted
11th Nov 2009 13:21

No they havent !

HMRC have only validated IXBRL and/or tax software.

Tech ed,if you endorse software surely you should have used it ?

 

 

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By daveforbes
11th Nov 2009 14:09

HMRC recognition rather than accreditation

It is true, the HMRC do only check that the iXBRL accounts and computation that are output. To evaluate how easy it is to operate is not their role. We are more than happy for someone independently to review our software.

Tech-ed, feel my pain. We have had this off and on for two and a half years from him ! Could we move this thread to somewhere else and just leave the news article ?

p.s. I don't think the tech editor is endorsing our product, I think he is reporting a piece of news.

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By Becky Midgley
11th Nov 2009 14:47

This discussion has come to a close

Can the members involved in this pointless campaign please desist from posting now, you have made your point.  You have also received private contact from both myself and the technology editor, which you have ignored in favour of airing your laundry here. 

I have deleted some of your posts because they add no value to this thread.  If you cannot express your point of view in a professional and constructive manner then further action will be taken.

If there are any further comments of this nature then I will delete all posts made by all contributors.

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By pauljohnston
12th Nov 2009 10:20

Forbes Computers

So that there are two sides I will say the following

 

We have used the Forbes software for a number of years and it is not perfect but if you have a problem generally contacting support gets an immediate response.

We have not stayed loyal but have tried other software houses but reurned the following year.

If someone has a genuine complaint about this company they should contact David Forbes or the Tech-Editor of this website.

From a businessman's point of view posting unhelpful comments takes time that could be used to generate income.

Finally it takes someone with courage to expend time and effort to embrace the new technology.  What ever software we use we should all be grateful that Mr Forbes is pulling us along.

 

 

 

 

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By julianansell.hotmail
12th Nov 2009 11:06

Forbes

How sad to see derogatory comments soiling Accounting Web.  I have used Forbes and VT software since 1999 and my experience of support and performance from both providers has been excellent.  They give first class support in response to a phone call and demonstrate a high level of expertise and understanding.  My experience of other providers of software is nowhere near that experienced with Forbes and VT.  Long may they continue to be independent and pathfinders for the smaller practice.

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By daveforbes
12th Nov 2009 11:46

Thanks very much

Just thought I would point out that I have not prompted either of these contented posters.  I am also happy to get constructive criticism publicly or privately to [email protected]. Mindless insults really are a different matter. I shouldn't, but I do take them personally.

All part of this new social networking world I suppose ! A glutton for punishment I have just signed up for twitter - http://twitter.com/forbessoftware - just need to work out how to operate it. We will use it to let people know what we are doing and when updates are being uploaded, when we have gone to the pub on a Friday etc.  

 

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