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What software is best for a small practice and can cope with FRS102

What software is best for a small practice and...

Hi,

I am currently in the process of finalising my practice certificate, and am looking at what software is out there for small practices.

I have worked in larger practices where they use IRIS and SAPA, however these are a little expensive, even though they both offer some sort of start up package.

There has been a lot of positive comments on here for VT, and I was wondering what people's thoughts are on this and whether anyone has had any experience of FRS accounts with the software?

Also some suggestions on personal tax software would be most welcome.

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By Macey
26th Feb 2016 15:30

taxfiler.co.uk offer tax prep AND accounts production (which is very similar to VT's) - over 50 clients = £15+vat per month

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03rd Mar 2016 11:58

Tax Filer?

Macey wrote:

taxfiler.co.uk offer tax prep AND accounts production (which is very similar to VT's) - over 50 clients = £15+vat per month

I couldn't find anything on their website to suggest they are offering Accounts Production software? could someone confirm this?

 

I use VT at present - no issues.

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26th Feb 2016 15:42

I don't think that VT have released their FRS102 formats yet, and neither have taxfiler, though I believe that they are both planning to do so soon.

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03rd Mar 2016 11:52

we use VT software, unmatched price around from all other packages available...

personal tax i would say PTP....

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03rd Mar 2016 12:06

Yes, taxfiler does accounts production. Just take a look at their demo. It is included free with the tax software. If you use the standard VT templates then taxfiler will do pretty much the same job. To be honest I'm not sure why they don't mention it on their website - maybe because they don't charge extra for it.

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03rd Mar 2016 12:15

Wow!

Tim Vane wrote:

Yes, taxfiler does accounts production. Just take a look at their demo. It is included free with the tax software. If you use the standard VT templates then taxfiler will do pretty much the same job. To be honest I'm not sure why they don't mention it on their website - maybe because they don't charge extra for it.

Thanks for that - taxfiler is even better value for money than I thought!

EDIT: But can you customise the chart of accounts?

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03rd Mar 2016 13:13

Taxfiler

You can't customise the chart of accounts, but as a user for two years, I have seen the chart of accounts slowly change and I am sure if there is a good reason they would add items to it.

FRS102 is coming soon, Taxfiler have made available a BETA version for checking to some volunteers.

Taxfiler are receptive to ideas and I have had some minor changes done that they have reacted to very quickly.

They have also improved the integration between the Accounts and the CT Return recently.  If anyone out there looked a while ago, it is worth checking again.

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03rd Mar 2016 13:40

Don't use Sage Accounts Production

It may or may not be FRS102 compliant (I don't know, I have moved to a new practice and haven't yet got to grips with their Sage software) but one thing I can tell you is that you cannot file accounts online to Companies House through Sage Accounts Production, which is a fundamental omission.

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03rd Mar 2016 14:57

VT

I use VT transaction and it has been updated for large companies to include an FRS102 template.  The software is very easy to use and I am very happy with it.

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By squay
03rd Mar 2016 15:28

We Use TaxCalc

I have used TaxCalc for 3 complete years both for tax returns and accounts production. Have found it more aligned to the small practitioner and far less expensive than Digita that I used previously for some 15 years. Their prices are quoted on their web site and if you are a member of the ICPA you can claim 2 optional extra features for free. When opening a client in AP you currently have the following formats on which to base your accounts:

OLD UK GAAP

FRSSE (2008)FRSSE (2015Micro entitiesSimplified small entities (Non FRSSE)Small company full Provisions

NEW UK GAAP

FRS 102 (Small) 

Therefore you can adopt FRS102 early for accounting periods commencing on or after 1 January 2015 should you so desire.

TaxCalc continue to upgrade ahead of the curve and are responsive to feedback. I am glad I made the switch. Why don't you go to Accountex at ExCel in London on 11 & 12 May and meet all the software suppliers yourself. Have some demos, ask questions and try before you buy.

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03rd Mar 2016 16:09

TaxCalc

I have used it since the begining excellent package and not to expensive. I think their is going to be a cloud version soon.I just wish they would create a bookkeeping package as well. 

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04th Mar 2016 18:40

Have Taxcalc said they are going cloud-based? Is it going to be a hosted solution like Digita or a true cloud system? I've not seen anything from Taxcalc which talks about it. 

Also I can't see Taxcalc producing a bookkeeping package. Surely they originally used to be part of Intuit and moved away from bookkeeping when Intuit divested.

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By squay
04th Mar 2016 19:03

TaxCalc Cloud

#Tim. In the annual users survey last year we were asked about our interest in several future developments. One of them was a cloud based version of TaxCalc. Whilst it shows that the TaxCalc development team are considering it (and I hope they do) it doesn't mean it will happen. If anyone can put any meat on this bone I too would love to know.

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