Accounting software for Larger Companies

Small UK company part of a larger group require an Audit

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We have a small client in the UK but they are part of larger group and require an Audit.  The UK Limited company is very small with around 100K Turnover per annum and one employee.  Only around 50 cost transactions per year 

We use taxfiler but only deals with small companies accounts and tax returns. Recently, we purchased another IRIS product PTP Accounts Production but that was fiddly.

We are looking for alternative software that is slick as taxfiler that caters for Medium Size Companies under UK GAAP ?

 

 

 

 

Replies (12)

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By newbaraban
12th Apr 2021 11:41

Hi,
Reading your question - you have a small company part of a medium/large group. Audit - required. But being part of medium/large group,if your company is not a Parent co, does not prevent you from preparing FRS 102 1A accounts. You can use taxFiler to prepare FRs 102 1A and you do not need another software?!

also a question I thought PTP accounts production software has been discontinued - out of interest - how much did you pay and when?

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By sanjay100
12th Apr 2021 12:25

Taxfiler does not have a section for the Strategic Report and Audit Report. Already checked with them

PTP Accounts Production is so difficult to use. I wouldn't be surprised if it is discontinued. I will message you separately on the price I paid

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Replying to sanjay100:
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By paul.benny
12th Apr 2021 12:49

Could you add the audit and strategic reports separately?

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Replying to paul.benny:
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By sanjay100
12th Apr 2021 14:56

I don't think we can. These reports need to go at the start and some be paged numbered accordingly so wouldn't be a case of just inserting the reports at the end etc

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Replying to sanjay100:
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By paul.benny
12th Apr 2021 17:20

I think the sequence is just custom and practice rather than any formal requirement.

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Replying to paul.benny:
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By sanjay100
12th Apr 2021 20:55

yes you are probably right but the auditors won't sign the Audit Report plus it doesn't look professional with the client just adding them.

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Replying to sanjay100:
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By paul.benny
13th Apr 2021 09:29

Can you add some blank pages as placeholder?
There must be some workrounds that don't require you to licence and learn new software for a single set of accounts.

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Replying to paul.benny:
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By sanjay100
13th Apr 2021 16:37

I have checked with Tax filer and they said you can't on their Accounts Production though they said its a popular request so maybe in future

Now have to decide on a suitable accounts production software that is easy to use and reasonably priced for just two clients

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By paulwakefield1
12th Apr 2021 12:52

VT Final Accounts has a medium/Large size company template which includes a sheet for the Strategic Report and also one for the Audit report.

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Flag of the Soviet Union
By thevaliant
12th Apr 2021 16:26

Audit - Is Section 479A your friend (to avoid audit)?

Ie, is the parent company in an EEA country?

Edit - sorry, it's not available now. You learn something every day!

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John Toon
By John Toon
15th Apr 2021 12:54

Not sure you have actually answered the question about why you don't think any of the small company exemptions apply?

Yes, I get there may be an audit requirement, although I question this based on the relative size of the company, but that doesn't preclude adopting some or all small company exemptions, including utilising FRS 102 1A.

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Pile of Stones
By Beach Accountancy
15th Apr 2021 13:05

I like Taxcalc, and find it much easier to use than PTP. The advertised price is £130 + VAT. Will cope with the audit report, but I couldn't obviously see a section for the Strategic Report. You might be able to add it as an extra note or change one of the free-form sections in the Directors' Report.

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