IRIS Updates Elements Professional Edition and Confirms Future Roadmap 

IRIS Software Group (IRIS), a leading global software provider of accounting, edtech, HR and payroll solutions, today unveiled a series of product updates for its unified cloud accountancy platform, IRIS Elements, designed to automate workflows so accountancy practices can further digitise their operations without having to switch between multiple applications.

IRIS has over 24,000 accountancy customers, 6,000 of which are now using Elements to run their practice. Elements automates workflows and utilises a single client record, enabling firms to onboard clients, produce and file accounts, conduct tax calculations, submit returns to HMRC and conduct practice-wide anti-money laundering compliance on a single cloud platform.

Mark Chambers, Managing Director for Accountancy at IRIS commented: “We understand that market innovation and thoughtful product updates have a lasting effect on our customer’s business. Whether it’s transitioning to the cloud or simplifying existing software complexities, IRIS Elements caters to firms of all sizes. We remain steadfast in our commitment to supporting accountants and bookkeepers throughout their technological journeys.”

2024 Updates to Elements Professional Edition:
In May 2023, IRIS introduced Elements Professional Edition, which caters for start-ups practices, sole practitioners and bookkeepers as well as medium sized practices with more complex requirements. With today’s Spring 2024 update, IRIS has introduced a number of enhancements:

IRIS Elements Professional Edition for Accounts Production

• Produce accounts for limited liability partnerships (LLPs): With this new feature, IRIS Elements Professional Edition is better positioned to meet the needs of larger, two or three partner practices who may represent clients requiring more disclosure.
• Leverage interconnected data: Using APIs, accountants can now quickly and more accurately extract, transfer and import data – including .csv files and third-party bookkeeping packages like Xero.

IRIS Elements Professional Edition for Tax

• Communicate as an agent directly with HMRC: Elements now includes the 64/8 ‘authorising your agent’ forms to help accountants streamline communications with HMRC about their clients’ affairs.
• Avert compliance penalties: System refinements offer better visibility into upcoming compliance deadlines for filing VAT, accounts, self-assessment, and corporation tax.

Both modules now also come with enhanced permission management features, supporting practices with high profile clients where internal confidentiality is paramount.

Looking Ahead

Available this Summer 2024, a new Time and Expenses capability will give team members the ability to accurately track and report on where they are spending their time. This is the beginning of more advanced data tracking features within Elements that will appear over time and will ultimately help customers answer key questions about their business, such as, how profitable they are.

Available during Winter 2024, IRIS plans to release IRIS Elements Enterprise Edition Tax and Accounts Production modules to help larger practices move to the cloud, without needing to switch between different software applications.

In 2023, IRIS Elements won ‘Cloud Innovation of the Year’ at the UK IT Industry Awards and ‘Cloud Vendor of the Year’ at the Computing Cloud Excellence Awards.

IRIS Software Group will be exhibiting at Accountex London at stand 940 on the 15-16 May 2024 at ExCeL. 

You can register for a free ticket here.

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