This is geared more towards the accountants here but I'd appreciate the thoughts of bookkeepers who would see the end accounts.
I have recently started using a new software package to produce my accounts and file in iXBRL.
The filing system seems very good and I have successfully filed Company accounts and CT600's with minimal issues (not software faults).
However the paper/PDF output is not that great. In particular there have been a couple of issues with layout, i.e. an extra bit crossing over a margin, a comma allocated to a note that doesn't need it etc.
When querying these issues with the software provider they have been brushed off as 'cosmetic' and don't affect filing of the returns. This attitude, in my opinion, is more than a little frustrating.
In my opinion the accounts should look consistent and professional in their look. That way if any third parties do have to look at them they know they are produced by a company that knows their stuff. Also I know that my client is likely to pick up on it and say we need to get rid of it.
What are other peoples thoughts on presentation within the accounts?
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Phil Hendy, The Accountancy Mentor
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Your name is against the accounts and your institute may well check a sample of accounts for quality purposes, and I personally think that clients like a nicely aligned copy too (presentation is good, then hopefully the numbers too are right!)
Which software was it by the way?
Will be interesting to see what others write about it.....
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Sid
Sudipta Moore, Moore Accountancy - Accountants in Altrincham serving SME's and Individuals
that's just shoddy development and poor customer service.
Was this a major player or a small company?
If it's a major player then the people that you spoke with will have been the helpdesk rather than the development department. Sounds as though the help desk didn't want to be bothered filling out an issue log and fobbed you off. If you contact them again ask for an issue number. Once raised on test director (or whatever their equivalent is) it will ensure that the logged issue gets passed through to development to rectify as a minor fix in the next update run.
If it's a small player then you may have been unlucky and hit one of those where a few mates from uni think that they can write software but don't have the experience to know what full unit, system and integration testing actually entails.
If you get nowhere again ask to speak with the IT manager about the flaws with the software.
Good luck,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
It is a small player called Absolute Accounts / Absolute Tax; however, the Director was one of the lead developers of some software a while ago that sold out to IRIS.
I changed from IRIS as it is significantly cheaper; however, it is turning into one of those cases of you get what you pay for.
I actually quite like a lot of the functionality of it, iXBRL has been a breeze with it, much better than IRIS in fact. It just seems that they have prioritised this rather than the client presentation side of it.
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Phil Hendy, The Accountancy Mentor
Are you thinking of setting up your own practice or have you set up and need some help?
If so a mentor may be the way forward - feel free to get in touch and see how I can assist you.
I personally think it is important, as I've seen accounts prepared by other practices and the worst examples tend to reflect the practice, if you know what I mean. The worst case was a set of accounts filed with Companies House which didn't even balance (and wasn't rejected!), the practice it came from was shocking in their advice too.
I personally think it is important, as I've seen accounts prepared by other practices and the worst examples tend to reflect the practice, if you know what I mean. The worst case was a set of accounts filed with Companies House which didn't even balance (and wasn't rejected!), the practice it came from was shocking in their advice too.
I have seen some very odd sets of accounts that I can't believe haven't been rejected! Most common seem to be where someone does there own company accounts and the balance sheet (if that is what you can call it sometimes) doesn't have any share capital on it.
I agree that it is something you would comment on when looking at the accounts.
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Phil Hendy, The Accountancy Mentor
Are you thinking of setting up your own practice or have you set up and need some help?
If so a mentor may be the way forward - feel free to get in touch and see how I can assist you.
Interestingly, I also posted this on Accounting Web which has prompted the MD of the company requesting that I call him to give feedback.
I spoke to one of their senior management guys this morning and he was quite positive about the post and that they would be acting on the issue promptly.
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Phil Hendy, The Accountancy Mentor
Are you thinking of setting up your own practice or have you set up and need some help?
If so a mentor may be the way forward - feel free to get in touch and see how I can assist you.
Although I file using iXBRL using VT, the software first produces perfect accounts which I give to the client. Then I produce the iXBRL accounts. Each one is saved separately so no-one except the HMRC see the iXBRL accounts!
I am still using the Co House template to submit their accounts, because it looks better (as you say) than the iXBRL. I have to admit I don't worry about the Company house copy too much. I have found anyone important who needs to see the accounts (Government bodies, Banks etc.,) still ask the client to produce the accounts in hard copy, and never look at the ones at Company House.
Although I file using iXBRL using VT, the software first produces perfect accounts which I give to the client. Then I produce the iXBRL accounts. Each one is saved separately so no-one except the HMRC see the iXBRL accounts!
I am still using the Co House template to submit their accounts, because it looks better (as you say) than the iXBRL. I have to admit I don't worry about the Company house copy too much. I have found anyone important who needs to see the accounts (Government bodies, Banks etc.,) still ask the client to produce the accounts in hard copy, and never look at the ones at Company House.
Given that we file more accounts info with HMRC (full set of accounts) than Companies House (abbreviated accounts), wouldn't it be nice to simply file the one set! HMRC could make the relevant information available.
Then again, Co House seem to work quite well at the moment, it wouldn't seem fair to screw that up by imposing the beast that is HMRC on them!
I did try the joint filing service, but my CT software does a lot of the work for me which the joint filing software does not - so the CT600 took longer.
If I only had a couple of Companies Accounts to file, I'd use the joint filing software as is does both the abbreviated & full accounts at the same time - but I have more than a few, so I need to keep my time spent on the accounts and computations as much as possible within reason.
