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Taxfiler and posting from working papers

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I am potentially looking at changing our practice's software to Taxfiler however having used Iris for so long the first question would be, how are we to post working papers into taxfiler?  Is there a software that bridges the gap?  I have tried looking on here but can't seem to find the answer.

We are a two partner practice that uses the full Iris suite however like many on here we are becoming tired of their consistent fee increases and would like to explore other possibilities.  Ideally we'd still like to post our transactions into the software from working papers but its not easy to see which software provides this from their advertising blurb.

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By daniel_
08th Feb 2019 15:10

VT Transaction+ is the answer to this.

It's default chart of accounts are all recognised by Taxfiler automatically so you only need to map nominals once (into VTT+)

It can be used as a bookkeeping software but can also just be used to post adjustments to an imported client TB. It's extremely flexible and easy to use too.

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By AJF499
08th Feb 2019 15:14

I use TaxFiler - £12 a month - for exactly the same reason, Iris is not value for money for a small practice -although be aware that Iris have now purchased TaxFiler so what effect that will have on price remains to be seen.

You post the P&L and Balance Sheet onto Taxfiler instead of the trial balance, which is the norm for most softwares. All the journals and adjustments have to happen outside of TaxFiler as there is no way to post those within the software. There is also no ability to create or rename account codes.

For me that's no issue as I look at the Xero accounts with my clients rather than the stat accounts because they are more bespoke, but I know for some practices that is an issue.

For me and my needs its perfect, but might be worth checking directly with them first if you have any unusual clients or quirks that it might not be able to handle for you.

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