How TaxCalc's latest Accounts Production updates will add zip to your practice
After picking up the trophy for best Accounts Production software at AccountingWEB’s Software Excellence awards 2017, TaxCalc has been busy. This month sees a new release of TaxCalc Accounts Production to help practitioners stay compliant and increase their efficiency. As always customers will receive a notification inside their TaxCalc application to download the new release, so be sure to look out for it.
Some of the latest updates:
- A refresh of the styling within Edit Notes
- New quick filter and access options
- Improvements to Admin level notes and disclosures
- Additional statement preferences for FRS 102 1A
- Plus, improvements in key areas
A fresh look to Edit Notes and some nifty filters
Following feedback from users, the team at TaxCalc has given a number of the menu trees a makeover, most notably Edit Notes, which also includes new smart, quick filter options. The addition of these allows quick reference to what can and can’t be included within the Financial Statements - and provides a confirmation as to whether a note should be included or not.
Admin – Notes and Disclosures
It’s now possible to set or update default text globally for accounting standards FRS 102 1A and FRS 105. TaxCalc provides default text for many of the notes to the accounts, which can be edited on a client-by-client basis. Under admin default, text can be changed or set where no default exists. This is then applied for all new accounting periods, or where reset entry is selected on any existing note. Should users require the same or a similar note for a number of clients, they will now only need to enter it once. All of these can be found under Admin > Customise Accounts > Notes and Reports.
Additional statement preferences for FRS 102 1A
The new release sees added functionality to accommodate options allowed by legislation and reporting standards. Accounts Production is now able to generate abridged accounts, a statement of income and retained earnings - or a single statement of comprehensive income. Although these preferences are optional and not so commonly used, they provide additional flexibility and choice. They can be found under Accounts Setup > Accounting Standards/Statement Preferences.
And there's more
A new facility enables users to attach accounts to a tax return or send it to Companies House directly from within the reports themselves.
TaxCalc has also made it possible to bring forward opening balances and notes at the point of creating a new accounting period.
This latest release of Accounts Production includes many further improvements. For full details of the latest updates you can read our release notes here.
Interested in TaxCalc? Try our award-winning suite with our free 14-day trial