How Bright’s tax and accounts platform simplifies annual accounting

January means your annual accounting season has officially started, and we know it can be an especially challenging month for accountants. Fewer working days due to the holiday season, the need to regain momentum after the festive break, and the looming deadline for Self Assessment create a perfect storm of pressure.

HMRC’s recent report revealing that 4,409 self-assessment returns were filed on Christmas Day highlights the immense pressure accountants face during the busy season.

So, here’s some well-needed good news; With our recent launch of BrightAccountsProduction in the UK, you now have access to a new accounting tool to bolster your arsenal alongside our tax and accounts solution, BrightTax.

Tax and accounts made simple: How BrightTax and BrightAccountsProduction work together

BrightTax forms the core of your accounting toolkit, acting as an all-in-one solution for Self-Assessment, Corporation Tax, Annual Accounts and VAT, and when you add in BrightAccountsProduction, you get enhanced features, including a broader range of accounts production templates to cater for your firm’s varied client base.

All in all, BrightTax completes everything you need for tax compliance and provides accounts production functionality for basic client templates, while the newly launched BrightAccountsProduction covers everything from Sole Traders to specialised sectors like Charities.

Why make BrightTax and BrightAccountsProduction’s tax and accounts platform the core of your practice?

As an accountant, having the best cloud-based accounting tools at your fingertips is essential for staying efficient and competitive. BrightTax and BrightAccountsProduction are designed to meet these needs, offering unparalleled functionality and ease of use.

Let’s take a look at the reasons they should be the cornerstone of your accounting practice:

7 features of Bright’s tax and accounts platform that make annual accounting simple

BrightTax and BrightAccountsProduction work seamlessly together to form a comprehensive tax and accounts platform, streamlining processes and reducing administrative burdens. From managing tax returns to generating iXBRL files and posting journals, this integration enhances efficiency without overpromising.

Why it’s helpful:

• BrightTax automates journal posting directly into BrightAccountsProduction, saving valuable time

• Simplifies workflows by reducing the need for multiple platforms

Curious to see how this integration works? Join our webinar on Thursday, 13th of February, at 11:00 am to see it in action.

Our Bright solutions are designed to adapt to the unique needs of each accounting practice, allowing users to handle diverse client scenarios with confidence.

How BrightTax and BrightAccountsProduction offer flexibility:

• BrightTax offers support for all accounting periods, as the system is not restricted to fixed 12-month cycles

• BrightTax ensures precision in handling complex accounting tasks, such as partnership tax returns

• BrightAccountsProduction offers flexibility through an extensive library of accounts production templates, including specialised options for Charity Accounts, Schools, Farms and more

Why it’s different from other accounting software

BrightTax ensures adaptability for a range of client needs, while BrightAccountsProduction enhances this by enabling accountants to address specific reporting requirements for diverse client entity types. Together, they deliver the flexibility to manage both standard and specialised client cases with ease.

Accuracy is critical in tax and accounts work. BrightTax’s intuitive workflows and automation eliminate manual errors and ensure compliance with the latest regulations.

Ensure data accuracy with:

• BrightTax’s automated checks and guided workflows

• Our recent integration between BrightTax and BrightAccountsProduction, to guarantee real-time updates to your client data across both platforms

According to HMRC, late filing penalties have accumulated to £980 million since 2018-19, with over 1.5 million taxpayers affected each year. By integrating BrightTax with BrightAccountsProduction, you can minimise the risk of costly errors and ensure compliance with tax regulations, avoiding these significant penalties.

Bright understands the unique needs of accounting professionals. That’s why both BrightTax and BrightAccountsProduction are designed to ensure practicality and usability come first.

Why it stands out:

• Accountants can focus on delivering value to their clients rather than being bogged down by administrative burdens

• Bright evolves with the profession by acting on real-world feedback, ensuring you always have the best tools at your disposal. For example, after multiple user requests for additional client templates, we introduced BrightAccountsProduction to the UK

As discussed, BrightAccountsProduction enhances BrightTax’s existing accounts production capabilities, offering a wide range of templates, including those for charities, partnerships, and specialised sectors.

Here’s a breakdown of the templates provided by BrightTax and BrightAccountsProduction:

*All templates in BrightTax and BrightAccountsProduction are FRS102, FRS Section 1A, and FRS105 compliant, ensuring full regulatory adherence.

A feature-rich platform is only as good as its usability, and BrightTax and BrightAccountsProduction excel in this area. Designed with accountants in mind, these tools simplify even the most complex tasks, making them easy to navigate and implement.

Why it stands out:

• Clear navigation and streamlined processes mean less time spent on admin and more time focusing on clients

• With an excellent support team and a wealth of resources available, finding answers to queries is quick and effortless

At Bright, innovation isn’t just a goal — it’s a standard. We actively listen to user feedback, adapting our tools to meet evolving needs and challenges. For example, after numerous requests for additional client templates, we introduced BrightAccountsProduction to the UK, expanding our offering to better support accountants managing diverse client bases.

This dedication to improvement hasn’t gone unnoticed. Bright has been honoured with several prestigious accolades, including:

• Payroll and HR Software of the Year at the Accounting Excellence Awards

• Best Payroll Software Provider at the Software Excellence Awards

• Practice Software Product of the Year at the British Accountancy Awards

Our users agree, with glowing Trustpilot reviews highlighting our impact:

• “Bright’s software has transformed our practice. The continuous updates and user-friendly interface make our tasks much more manageable.”

• “Exceptional customer service and innovative solutions. Bright listens to its users and consistently deliver.”

By combining user-driven innovation with award-winning excellence, Bright ensures you always have the tools to succeed and stay ahead in the profession.

Discover the Bright difference

Ready to elevate your practice? Explore our solutions today and see why many accountants trust BrightTax and BrightAccountsProduction to stay ahead in an ever-changing industry.

This content may have been developed with the assistance of AI tools. Content is reviewed by a member of the Bright team before publication. Guidance on legislation can be obtained from your industry body.