Tech Lowdown: Payments, Receipt Bank app and MTD hub

Tech Lowdown
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Welcome to our weekly round-up of the latest news and updates from the accounting tech world. 

This week, Tech Lowdown features a new partnership between Star Payroll and the payments platform CORVID PayGate, changes to the Receipt Bank app, AccountsIQ updates and a new MTD hub.

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Star Payroll announces payment processing partnership

Star Payroll, which was IRIS acquired earlier this year, has joined forces with electronic payments platform CORVID PayGate to enable accountants to create and submit payment files on behalf of clients without Bacs accreditation using the secure Bacs network.

“The changes in legislation, combined with rising complexity and increased security often prevents companies from running their own payroll. We are seeing many businesses turn to their accountant for support as a natural extension to accountancy services,” said Howard Hoddell, head of sales at Star.

“However, for practices to thrive in the digital economy, services must be commercially viable. Removing Bacs accreditation costs and potentially reducing bank charges enables firms to offer affordable payroll services.”

The Star and CORVID PayGate partnership builds on the current integration, enabling payroll files to be directly imported in their native formats and automatically translated into Bacs-ready transactions, whilst ensuring file integrity.

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Receipt Bank: Mobile app, Fetch and client list changes

Receipt Bank has released a set of new features this week to improve user permissions and the user experience across the website and the app.

One of the main changes is the possibility to assign user restrictions and user privileges on the mobile app, which brings consistency across mobile app and the web app, which already offered this option. For accounts integrated with accounting software, any administrators or users with publishing rights for all items will be able to publish items from either the mobile app or the web app.

The access permissions have also been updated for Fetch, a feature designed to automatically download recurring bills and invoices from the supplier websites. Whereas it was only possible for the user who set up the connection to manage it, users with an admin role can now view and manage all the Fetch connections on the account.

Additionally, there have been some navigation changes, such as the move of Archive from the primary navigation bar into the Inbox, where users will now be able to access all their costs directly.

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BTCSoftware launches MTD hub

BTCSoftware has announced a new MTD hub which will have information about HMRC announcements and the latest MTD for VAT developments, guides on how to sign up clients to the MTD for VAT public pilot as well as guidance on setting up the new Agent Services Account and completing the steps necessary before start using software to file MTD VAT returns.

“The information hub will give people the opportunity to follow and read more about MTD which is relevant to them and help our customers and support them effectively with their plans,” said Paul Oldridge, business development director of BTCSoftware. “This new information portal will help people looking at all aspects of MTD; it is designed to empower the customer with more direct information about MTD”.

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AccountsIQ announces time-saving product feature updates

An AccountsIQ update now makes it possible for users to manage revenue accruals, cost accruals and prepayments from a single general ledger journal manager, which also includes options to import trial balance movements and journals via Excel templates.

Other recent features include a redesign of the general ledger journal entry functions and new prepayments spreading functionality.

The company also recently partnered with the TransferMate global payments platform, allowing users to generate foreign payments with better exchange rates and with reconciliation via direct integration into AccountsIQ.

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