# IRIS helps accountants future-proof their practice
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-09-28
Category: FINANCE
Category URL: https://financedigest.com/category/finance
Meta Title: IRIS Accountancy Suite Autumn 2017 Release: Future-Proof
Meta Description: Stay ahead of industry changes with IRIS Accountancy Suite Autumn 2017 release. Leading the digital agenda for accountants with MTD support and cutting-edge
URL: https://financedigest.com/iris-helps-accountants-future-proof-their-practicehtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd280917-6-1736843424882-compressed.jpg)

IRIS Accountancy Solutions is today warning UK accountants they must future-proof their practices to be ready for the imminent climatic flip set to impact the industry. The company argues changes in the political and legislative landscape, the local and global economy, along with social and technology advances, cannot be ignored.

This warning comes as IRIS announces its Accountancy Suite Autumn 2017 release to support accountants as the changes take place. Its close working relationship with HMRC, along with a significant R&D investment, has demonstrated it is leading the software industry with the Making [Tax Digital](https://www.financedigest.com/self-employed-taxpayers-and-making-tax-digital.html "Self-employed taxpayers and Making Tax Digital") (MTD) programme.

[According to IRIS’ Voice of the Accountant research](https://www.financedigest.com/senior-leaders-more-at-risk-of-burnout-than-ceos-according-to-new-research.html "Senior leaders more at risk of burnout than CEOs, according to new research"), over four fifths (83 per cent) of accountants believe when MTD legislation is implemented it will increase their workload. To reassure those who have concerns surrounding MTD, IRIS will [announce new innovations in its core products and launch](https://www.financedigest.com/cavai-global-leader-in-conversational-advertising-announces-innovative-launch-of-conversational-video-to-maximise-engagement-and-impact.html "Cavai, global leader in conversational Advertising, announces innovative launch of conversational video to maximise engagement and impact") new products at its annual conference this week.

The [company is continuing to lead the digital](https://www.financedigest.com/digital-pcr-market-2021-global-leading-companies-analysis-revenue-trends-and-forecasts-2027.html "Digital PCR Market 2021 Global Leading Companies Analysis, Revenue, Trends and Forecasts 2027") agenda for accountants, with a first to market MTD accountancy practice suite and third-party accounting data integrations that demonstrate it is the most efficient, compliant and connected practice suite. IRIS is also enabling customers to participate in the HMRC Making Tax Digital early adopter programme with several customers already enlisting on the HMRC pilot scheme. The popularity of this move is supported in the IRIS research, as 42 per cent of interviewees feel MTD legislation will help grow their practice’s client base.

The most prominent of the innovations being announced is IRIS Connector, allowing clients’ accounts data to be imported into IRIS Accounts [Production from a wide variety of sources](https://www.financedigest.com/amino-acids-premixes-market-overview-analysis-with-application-product-source-opportunity-and-region-2022-2029.html "Amino Acids Premixes Market Overview & Analysis with Application, Product, Source, Opportunity and Region 2022-2029"), including direct accounting data imports from all the major cloud bookkeeping providers. Combined with a significantly improved and intuitive CSV import wizard, IRIS will ensure accountants [stay digitally](https://www.financedigest.com/the-vitiligo-treatment-market-to-stay-digitally-put.html "The Vitiligo Treatment Market to stay digitally put") connected to their clients’ data irrespective of the source data received from clients.

IRIS Accountancy Suite has been updated to incorporate [several significant user experience improvements](https://www.financedigest.com/improved-patient-safety-efficient-dose-administration-and-seamless-interoperability-for-advanced-infusion-delivery-are-several-advantages.html "Improved patient safety, efficient dose administration, and seamless interoperability for advanced infusion delivery are several advantages") to the Time and Fees module, as well as many ongoing legislative updates. This has also included the extension of its Financial Reporting Standards (FRS) leadership position with a new Statement of Income and Retained Earnings.

Sion Lewis, CEO at IRIS Accountancy Solutions, believes this release will be the tipping point for the [industry’s digital transformation:](https://www.financedigest.com/the-four-benefits-of-digital-transformation-in-the-finance-industry.html "The Four Benefits of Digital Transformation in the Finance Industry") “With many accountancy practices already reaping the benefits of digital records, from bookkeeping efficiencies to greater tax accuracies and compliance, this release will enable many accounting practices to join the digital journey. Lewis sees this as a clear win-win for both [small businesses](https://www.financedigest.com/the-small-businesss-guide-to-getting-started-in-digital-advertising.html "The Small Business’s Guide to Getting Started in Digital Advertising") and accountants.”

Lewis continues, “There are simultaneous [benefits for both accountants](https://www.financedigest.com/manufacturers-of-shipping-containers-market-to-benefit-from-lucrative-growth-opportunities-on-account-of-increasing-adoption.html "Manufacturers of Shipping Containers Market to Benefit from Lucrative Growth Opportunities on Account of Increasing Adoption") and their clients; as consumers, we want to instantly consume information and want it at our fingertips. Digitising tax enables clients to enter and view [data themselves, while the accountant gains the data entry time back and can use it to drive](https://www.financedigest.com/how-alternative-data-drives-e-commerce-success.html "How Alternative Data Drives E-commerce Success") regular, insightful discussions.

“As the first Making Tax Digital accountancy suite to enable accountants to file quarterly submissions, we are in the best [position to equip](https://www.financedigest.com/instant-online-scheduling-to-revolutionize-the-patient-positioning-equipment-market.html "Instant Online Scheduling to revolutionize the Patient Positioning Equipment Market") accountants to become more efficient and productive than ever before, simplifying their lives so they can focus on attracting new clients and growing their businesses.”

IRIS Customer, Yvonne Cookson, partner at Your Tax Shop and HMRC MTD early adopter says, “Early access to the HMRC MTD programme from my core IRIS practice software suite enables me to prepare my business for the changes ahead, and at the same time get my clients up to speed and into a new routine [well ahead](https://www.financedigest.com/cricket-injured-buttler-progressing-well-ahead-of-t20-world-cup.html "Cricket-Injured Buttler ‘progressing well’ ahead of T20 World Cup") of the new mandatory deadlines.”

IRIS PTP and Keytime brands have also embraced MTD with HMRC pre-population enabled for both products in April. IRIS PTP will also offer [quarterly filing from October](https://www.financedigest.com/uk-new-car-sales-up-by-nearly-a-quarter-in-october-smmt.html "UK new car sales up by nearly a quarter in October – SMMT") 2017.

**Key features include:**

- Seamless digital journey for [client accounting data to practice suite for quarterly](https://www.financedigest.com/impact-com-continues-momentum-in-the-first-quarter-fueled-by-client-growth-new-products-and-partnership-events.html "impact.com Continues Momentum in the First Quarter, Fueled by Client Growth, New Products and Partnership Events") filing and submission
- Wide range of [client data integrations](https://www.financedigest.com/impact-com-closes-2021-with-new-google-pay-integration-150m-in-funding-and-51-increase-in-clients-yoy.html "impact.com closes 2021 with new Google Pay integration, 0M in funding and 51% increase in clients YoY") available:

  - KashFlow
  - FreeAgent
  - IRIS OpenBooks
  - Xero
  - QuickBooks
  - Sage (later in 2018)
  - PS Financials
  - OpenAudit / MyWorkingPapers
  - FarmPlan
  - Other [sources via IRIS’ significantly improved CSV importer](https://www.financedigest.com/indias-carmakers-back-zero-duty-on-limited-british-imports-under-trade-deal-sources.html "India’s carmakers back zero duty on limited British imports under trade deal – sources")


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---