IRIS Elements Accounts Production is a cloud-based software designed for accountants to streamline the preparation of financial accounts. It supports sole traders, partnerships, limited companies, and more, offering features like trial balance reports, CSV imports, and iXBRL tagging. The platform provides three plans—Essentials, Professional, and Enterprise—tailored to varying client needs. With capabilities such as electronic submissions to Companies House and integration with tax products, it ensures compliance and efficiency. The software is ideal for small practices to large firms, prov...
Vendor
IRIS Capital
Company Website
IRIS Elements Accounts Production is a cloud-based tool for accountants to prepare financial accounts efficiently with features tailored to different business sizes.
Key Features
Flexible Plans IRIS Elements Accounts Production offers three plans to suit different practice sizes and requirements:
- Essentials: For sole practitioners and micro practices with simple client needs
- Professional: For practices with more complex client requirements
- Enterprise: For larger practices with advanced needs
Comprehensive Entity Support The software supports a wide range of entity types:
- Sole traders
- Partnerships
- Limited companies (FRS 105, FRS 102 section 1a, Trading & Dormant)
- Limited Liability Partnerships (LLP)
- Community Interest Companies (CIC's)
- Farm accounts
Data Import and Integration Streamlines data entry and improves accuracy:
- CSV trial balance importing
- Integration with IRIS Elements Tax for shared data
- Xero trial balance import using API (Professional and Enterprise plans)
Benefits
Time-saving Automation Reduces manual work and improves efficiency:
- Automated draft account generation
- Intuitive note creation
- Fixed iXBRL tagging of accounts using FRC Taxonomy
Compliance and Accuracy Ensures adherence to regulatory requirements:
- Compliance with latest UK GAAP and IFRS reporting requirements
- Electronic submission to Companies House and HMRC
- Detailed audit trail maintenance
Enhanced Reporting Provides comprehensive financial insights:
- Trial Balance & Nominal ledger reports (exportable to PDF and Microsoft Excel)
- Detailed & Variance Trial Balance Reports
- 5 Year Trial Balance Report (Enterprise plan)