Sage Updates iXBRL Software

Fri, 15 Jul 2011

Sage has announced that it has upgraded its accountant-focused software, making it faster and easier to file corporate tax in iXBRL format, though the software is still not fully compliant with HMRC requirements for the new tax technology.

"HMRC's introduction of compulsory iXBRL filing in April this year represented significant change both in terms of the information needed to file but also in terms of the way many accountants worked," said Jon Martingal, product manager for Sage Accounts Production software.

"At Sage we are committed to delivering software and services that not only meets the needs of accountants but also makes their lives easier. With these enhancements, we've sought to further streamline and automate the creation of iXBRL-enabled accounts."

The company has also revealed an upgrade to its online offering, Sage One, which allows accountants to see a range of client information, including VAT and banking transactions, in realtime. Through the update, they will now have more access to cash flow information of their clients.

Michael Barber, marketing manager for Sage One, said: "As the uncertain economic conditions continue, small businesses are under increasing pressure to ensure good cash flow management."

"The ability to run aged debtor and creditors reports, as well as nominal activity and trial balance reports, will give Sage One accountants and their clients a detailed view of financial performance in real time."
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