Taxfiler Accounts Preparation software review

Firm size

  • Small
  • Medium

Integration

Taxfiler, Kashflow, QuickBooks, VT Transactions+, Xero, CSV

Templates

FRS 102, FRS 102 1A, FRS 105, Partnership, Sole trader

Functionality

Adjust, Import, Submit, Tag

Pricing

£15/user/mo as part of the Taxfiler suite, cannot be bought separately

User reviews

4.7
(284 user ratings)
Our trusted reviews are independent, first hand opinions taken from the UK's largest survey of business software users. These ratings are used to decide the Software Excellence Awards from the Accounting Excellence 2018 programme

Key Features

  • No-nonsense creation of final accounts, which can be prepared from trial balances using simple manual entry or imported figures
  • Client details and trial balance figures transfer straight from QuickBooks into Taxfiler Accounts Preparation
  • Add notes and disclosures which will be numbered and tagged correctly
  • Check and Review routine ensures common errors are avoided
  • Final account balances transfer seamlessly to the Taxfiler tax return to ensure accuracy
  • Accountant’s report options include: ACCA, ICAEW, ICAS, CAI and independent

Product screenshots

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What Taxfiler says

Taxfiler is designed to make running a micro practice affordable. Taxfiler Accounts Preparation is an online application to quickly and easily prepare final accounts from trial balance stage, using simple manual entry or importing figures from bookkeeping software. Users can add notes and disclosures which are then numbered and tagged correctly.

It is ideal for small companies (FRS 102 1A), micro-entities (FRS 105), sole-traders and partnerships.

The product enables accountants to transfer the balances seamlessly from the completed accounts to the tax return, saving time and avoiding errors. Users can submit iXBRL-tagged accounts directly to Companies House and HMRC (alongside a CT return) at the click of a button.

2018 roadmap

The product roadmap includes connecting our award-winning Accounts Production solution to online bookkeeping software including FreeAgent and Sage and integrating it with IRIS OpenSpace. This provides a secure document exchange for sets of accounts to be signed, sealed and delivered securely.

What users say about Taxfiler Accounts Preparation

Read user reviews

    Pros

  • Intuitive workflow
  • Great customer support
  • Ease of use, logical process
  • Excellent value for money

    Things you might change

  • The account names can’t be edited
  • There is no live chat support
  • It is a bit inflexible

Functionality

4.6

    Pros

  • The link between accounts and tax is a great time saver
  • Intuitive workflow
  • Innovative way of transferring trial balance to software

    Things you might change

  • Doesn’t have the ability to do medium/large and group company accounts
  • Could have better integration with booking software such as VT
  • The account names can’t be edited

Support

4.6

    Pros

  • The support team is very quick to respond by email to answer any questions
  • Great customer support and they take customers feedback seriously

    Things you might change

  • The user manual could be improved
  • There is no live chat

Ease of use

4.8

    Pros

  • Simple and logical
  • Ease of filing and amending accounts

Value for money

4.9

    Pros

  • Affordable, it has all the functionality of far more costly programs

    Things you might change

  • It can be a bit inflexible but it is difficult to complain due to the cost of the software

What AccountingWEB says

As a developer better known for its cloud tax software, Taxfiler surprised a lot of people by winning the accounts production category in the 2018 Accounting Excellence Software Awards.

Starting from £10 a month for the “solo” edition covering both accounts prep and tax returns, Taxfiler doesn’t’ quite match more established desktop products for functionality, but won on the basis of superlative ratings for value for money and ease of use.

Taxfiler uses a fixed chart of accounts with fewer than 60 accounts, which some users said it would be nice to be able to customise. Until that facility is added, those handling more complex accounts may need to combine a few of them to fit them in.

Taxfiler’s rapid growth over the past five years has not gone unnoticed within the industry. QuickBooks entered into a technical partnership during 2017 which underpins a good interactive link and the application subsequently became part of the IRIS stable in May 2018. Deeper integration with KashFlow and the IRIS Accountancy Suite has been promised following the acquisition.

User reviews (24)

About the reviews
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3.3
Practice Manager, £10m+
13 June, 2018

What do you like?

Helps small business to manage their taxes to be filed.

What would you change?

It would be nice if it can manage tax files for more complex and larger companies.
4.5
Sole Practitioner, Less than £250k
9 June, 2018

What do you like?

Functionality, affordable but has most functions of the large software, great customer support and they take customers feed seriously.

What would you change?

Better integration with booking software such as VT.
4.3
MD/CEO/General Manager/Director, Less than £250k
8 June, 2018

What do you like?

Ease of use, logical process.

What would you change?

The ability to do medium/large and group company accounts. Being able to change or add chart of accounts.
4
Sole Practitioner, Less than £250k
6 June, 2018

What do you like?

Produces decent accounts for limited companies which although can be inflexible it is difficult to complain due to the cost of the software.

What would you change?

The inability to change the nominal account names and lack of flexibility.
4.8
Partner, Less than £250k
29 May, 2018

What do you like?

The linking between accounts and tax is a great time saver.

What would you change?

It would be nice to be able to customise some of the income/expense account names.

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