The accounting industry is staring down the barrel of several industry-wide changes in the next few years. Making Tax Digital (MTD) and the increasing requirements for collaborative accounting and flexible working in the industry are just two of the main changes that require planning and swift action. So how can accountants meet the demands of the evolving accounting landscape?
The CaseWare team recently held two client conferences, in London and Dublin on 14th and 21st June to tackle these key topics. CaseWare experts discussed their vision for the future of accounting technology to tackle key industry challenges as well as our plans to support clients through these changes.
We covered a range of industry topics at these events, with our team running through the latest product developments and updates to the suite of CaseWare solutions. We’ve summarised the top highlights from CaseWare’s product experts.
The latest on Making Tax Digital
The MTD initiative is set to transform and revolutionise the current UK tax system, forcing accounting firms to restructure their internal processes to meet the requirements of MTD.
It’s important to appreciate the fact that MTD is not just a replacement of the existing system, but a complete overhaul. Unsurprisingly, a key focus for many accounting firms is digital transformation and ensuring they have MTD-compatible solutions in place to streamline the reporting process.
CaseWare’s Product Manager, Stuart Miller, gave attendees a first look at our brand-new Making Tax Digital solution designed to ensure MTD compliance and streamline the reporting process.
The Making Tax Digital solution is Cloud-based and enables users to import their financial data directly into it. This includes data from accounting platforms such as Xero, Sage, Exact and QuickBooks. It also supports Excel spreadsheets and makes the transfer of financial data seamless.
New updates to AccountsAdvanced
Our AccountsAdvanced Product Manager, Ashley Goldsmith, provided attendees with an in-depth demonstration of the latest developments in the AccountsAdvanced software – as well as its future development roadmap.
The AccountsAdvanced software enables its users to quickly and simply produce financial statements across a wide range of entity types – regardless of how complex the accounting structure. The AccountsAdvanced software is compliant for FRS 101, FRS 102, FRS 105 micro entities and IFRS financials.
The latest features to be added to the AccountsAdvanced software include:
- Companies House data import
- New note building tool
- IFRS template
These features will be available on the AccountsAdvanced platform from the end of July 2017.
Latest version of AuditAdvanced unveiled
CaseWare’s AuditAdvanced is the next generation of audit software – and the most powerful audit solution available on the market today. Utilising the power of the Cloud, CaseWare’s SmartSync technology and Collaborate & Review on the Go empower audit teams, allowing them to work more efficiently on the most up-to-date information
Rob Millen, our Product Specialist, highlighted the latest feature set to arrive in the next version of our AuditAdvanced template and gave a demonstration of the enhancements to the Audit Optimiser feature. This now allows users to cut out unnecessary checklists and work programmes to streamline the auditing process.
Rob also covered additional functionalities on the FSA worksheet, new dialogue for Risks, Controls & Reportable Items and improved ‘Document Sign-off Report’.
Working Papers & SmartSync
CaseWare’s Product Owner, Matt Swann discussed the latest updates to CaseWare’s Working Papers project management software and the SmartSync tool.
Working Papers provides flexibility with a centralised location for all of your data, and now when combined with CaseWare’s SmartSync tool, teams can work on local copies of client files in real-time – and each file is automatically updated and synchronised in the background, removing the need to manage the process manually.
The evolution of CaseWare’s audit software
Managing Director, Simon Warren, discussed the evolution of CaseWare’s suite of audit software and our future direction, as well as delivering an in-depth demonstration on our latest analytics software that focuses on data interrogation and visualisation.
CaseWare Practice Management
Our experts delivered a live demonstration of the Practice Management software, a cloud-based, collaboration and client management solution designed to streamline projects, outlining its latest features, including:
- Time and billing tools
- CaseWare Collaborate
- CRM and entity management
- Document and file management
- Activity and task tracking
- Audit efficiency and quality monitoring
- Secure client portals
We will be holding further CaseWare client events in the future, to provide updates on how our software will support you through the key regulation changes. To find out more about the latest changes in the industry, click the button below to download our market research report.