Staff Writer AccountingWEB
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Tech Lowdown: IRIS World, FreshBooks, AutoEntry and Revolut

This week our tech round-up features updates from IRIS World, FreshBooks' launch in the UK, Farmplan's link with AutoEntry, and Revolut's Opening Banking launch for businesses.

11th Feb 2020
Staff Writer AccountingWEB
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IRIS World updates

This week, IRIS has hosted its annual accountancy conference IRIS World, which has also been an opportunity for it to release several product updates to the service.

Pending updates announced from IRIS today include interactive reports which will be able to provide a start to finish workflow for viewing, editing and finalising accounts. In addition, all elements to final accounts, including client details, account descriptions, disclosures and notes will be made available to edit on the platform. 

Users will be able to add, change and remove postings, bookmark navigation to easily locate selected sections within reports, and run exceptions and warnings reports. 

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FreshBooks launches in the UK

Today, Candian small business accounting platform FreshBooks announced its official launch into the UK. Following the launch of its VAT return report in 2019, which was aimed at helping small businesses with MTD compliance, its UK launch is set to release UK-specific additions to the service.

The FreshBooks platform will be offering full HMRC-approved MTD VAT returning filing in addition to UK support hours made possible by the opening of its Netherlands office.

In addition, the accounting software will be integrating with a whole host of UK banks, including Barclays, HSBC UK, NatWest, Lloyds Banks, and Santander UK, and complimentary apps such as online tax return and self assessment software GoSimpleTax. 

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Farmplan links with AutoEntry to reduce manual data entry

Agricultural software specialist Farmplan has recently linked with cloud-based data capture service AutoEntry to further automate the farm-based IT solution. The integration allows customers to upload Farmplan data directly into their business management software using email, scan or mobile app. 

Farmplan customers will receive a 10% discount from AutoEntry for the first six months, in addition to a free, optional trial. 

According to Sally Ashwell, Product Coordinator at Farmplan, “This latest development will considerably decrease the amount of time spent doing routine data entry, while improving the accuracy and consistency of information entered. We have established a close relationship with AutoEntry and ensured our two systems work seamlessly together,” she added. 

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Revolut launches Open Banking

Today, Revolut announced that it now offers Open Banking for its retail and business customers, following its partnership with API provider TrueLayer. With an Application Programming Interface (API), Revolut customers will be able to track spending and see real-time transaction and balance updates from all their bank accounts within the platform. 

Using Open Banking technology will mean that Revolut users can set budgeting controls for any of their accounts, irrespective of their choice of current account.

According to Revolut product owner Joshua Fernandes, the launch of the new features means “UK customers can now view and manage multiple external bank accounts, enabling them to interpret their day to day spending across all of their accounts, with the added benefit of making our offering even more relevant, user-friendly, faster and more cost-efficient for our customers."

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