When it comes to creating final and statutory accounts, having an up to date accounts production software is a necessity. Without competent software, creating financial statements can be a difficult and timely process. As an accountant, the best tools you can have are ones which save you time and make your life easier. There is nothing worse than spending a long time on a task that could be done much quicker.
For example, consider how some accounts production software packages simply provide a standard account format, which you then must edit to suit your clients’ industry needs. Constantly altering headings, adding columns, or conducting any other necessary edits not only wastes time, but the repetitive nature of the task can become frustrating. This is what makes our cloud-based accounts production software, Surf Accounts Production, such a great tool for accountants. Surf Accounts Production is the most flexible accounts production software on the market, offering an unrivalled variety of entity types which cater for almost every industry.
With 10 tailored formats available, our software can ensure you no longer have to waste time editing formats again. Our formats are customisable, meaning you can upload your own brand colours and logos to keep your documents consistent to your brand.
Surf Accounts Production is the number one software on the market in relation to compliance. All formats are FRS 102 Section 1A and FRS 105 compliant, while dual jurisdiction ROI/UK and NI compliant versions are available. Additionally, we have compliance team dedicated to keeping all formats up to date.
What are the 10 formats offered by Surf Accounts Production?
Surf Accounts Production offers the following accounts production formats:
- Company
- Schools
- Sole Trader
- Farmer
- Credit Union
- Industrial & Provident Societies
- Club
- LLP
- Partnership
- Charity
As mentioned, this variety of accounts production formats is unmatched by competitors. Thanks to this, you can reduce the time you spend altering templates to suit your clients’ needs. Below, we’ve broken down all of the formats and what they include.
Entity Types Characteristics
Company
The Company format includes:
- Companies Limited by Shares
- Companies Limited by Guarantee
- Audit Reports
- Abridged Accounts
- PASE
Schools
The Schools format is in accordance with the Education Act 1998 (Section 18) (ROI) and latest FSSU reporting requirements. Thus, areas such as the following are covered:
- Structured and simple style of accounts based on FSSU guidelines
- Contribution towards the cost of Fixed Assets and Analysis of State Grants note provided
- Optional Statement of Cash Flows
- Optional Financial Report to Parents
- Detailed Balance Sheet
- Detailed Income and Expenditure Account
Sole Trader
One single format for Sole Traders and Partnerships is provided. Should a sole trader become a partnership or vice versa, there will be no need to set up a new client, the format is adjustable. The Sole Trader and Partnership template caters for:
- 25 partners, 25 current and capital accounts
- Accountants Report in accordance with:
ICAEW TECH 08/16AAF
CAI M48 (unincorporated entities)
Auditor’s Report re Investment Intermediaries Act 1995 (Ireland)
Farmer
The Farmer format incorporates a full Livestock Enterprise Trading Account amongst other relevant features.
Credit Union
The Credit Union template is prepared in accordance with the presentation guidelines of the Irish League of Credit Unions.
Industrial & Provident Societies
Available from the company format the option to adopt the Industrial and Provident Societies Act provides the following:
- User definable Chairman’s Annual Report
- Statement of Committee Responsibilities
- Auditor’s Report in accordance with the Industrial and Provident Societies Acts, 1893 to 2018
Club
The Club format is based on the guidelines prescribed by the Registration of Clubs (Accounts) Regulation (Northern Ireland) Order 1997.
- Fully compliant with the Registration of Club (Accounts) Regulation (Northern Ireland) Order 1997 and is primarily for Northern Ireland based clubs
- We also provide a version for ROI based clubs which, while based on the NI guidelines does not include the citations
- Tailored Statement of Committee’s Responsibilities and Auditor’s Report provided
LLP
The Limited Liability Partnership format allows the user to prepare financial statements with the disclosures required by Section 1A of FRS 102. Additional disclosure options are also available to allow the user to provide more information and tailor the financial statements to meet the individual needs of their clients.
Partnership
As mentioned, the Partnerships format works within the easily adjustable Sole Trader format.
Charity
The charity format is the most recent addition to Surf Accounts Production’s offering. You can read all about it here.
Final thoughts
In summary, Surf Accounts Production makes life easier for accountants as you no longer need to spend time editing formats to suit each of your clients’ individual needs. By offering 10 customised accounts production formats, Surf Accounts Production is the most flexible accounts production software on the market. By using Surf, you no longer have to spend time altering formats, and can also benefit from other useful features, such as e-signing, iXBRL functionality and perfectly presented accounts. To find out more about Surf Accounts Production, see the 10 formats in action, and learn about the other features which can benefit you, book a free live one to one demo.
