March 30th, London, KashFlow announced today that its cloud accounting software, which is rapidly building market share at the expense of more traditional software products, now integrates to Forbes Accounts, the only accounts production system to produce iXBRL accounts recognised by HMRC.
KashFlow’s strategy is to build strong relationships with the major accountancy software providers developing integration that makes it easier for accountants to directly import their clients' financial data. This saves accountancy practices time and is particularly relevant in the current economic climate where the margins for compliance work, such as accounts production, are being driven downwards.
Forbes software has an excellent reputation in the accountancy software market and is recognised for providing accountants with powerful yet simple to use systems. David Forbes, Founder and Managing Director commented: “The end-to-end integration with KashFlow was initiated in response to customer demand. Many of our accountants recognise that cloud accounting systems are the right solutions for some of their clients and they have been asking for integration that allows them to import data seamlessly directly from cloud accounting software directly into Forbes Accounts. Once imported, the data is transformed into iXBRL to produce accounts which can then be attached to the corporation tax returns for submission.”
David continued: “We are impressed with KashFlow’s functionality and for those accountants embracing the ‘cloud’, this link will be seen as a big positive. The key message is that accountants want to be able to offer their clients choice between cloud accounting systems and more traditional packages.”
KashFlow is strengthening its appeal to accountants with import routines that are smooth in operation and do away with the need to re-key data. Duane Jackson, CEO of KashFlow said: “ Forbes is exactly the type of company KashFlow wants to work with: it provides excellent software and has set an industry first by being the only specialist accountancy software provider to have filed iXBRL accounts that have been recognised by HMRC.”
Ends
Issued by: On behalf of:
Carolyn Gordon-Smith (cgs@cimma.co.uk) KashFlow
Telephone: 01386 859090/07710 537928
KashFlow is an online tool specifically designed to help owner managers in small businesses manage their accounts. KashFlow's aim is to take the boredom out of managing a company's accounts and to make the day to day tasks easier to achieve so that less small businesses neglect this area.
KashFlow keeps accounts management simple: it requires no installation, software training or prior knowledge of accountancy.
All users benefit from a free, no obligation 60-day trial. The monthly subscription price is £15.99 a month - including free support and upgrades.
For further editorial information, contact:
Dominique Gillespie
PR Manager
dom@kashflow.co.uk; 020 7403 0101
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In June 2008, KashFlow became the first accounting software package to be certified by PayPal for integration with its payment platform. PayPal and KashFlow now work in partnership to provide a seamless, end-to-end, payment processing and accounting system.
In October 2008 KashFlow won a Business Software Satisfaction award, judged entirely by customer feedback, for the category of small business accounting - beating the likes of Sage 50, Quickbooks Pro and MYOB. Statistics revealed by the awards organisers show that KashFlow has a 70% share of the web-based accounting software market in the UK.
KashFlow has received two rounds of venture capital funding from their now chairman, Lord Young of Graffham. Lord Young is a former Secretary of State for Trade & Industry and ex Chairman of Cable and Wireless.
KashFlow is simple to operate, with users instinctively knowing where to click to perform almost any accountancy task.
Owner managers are able to effectively manage their accounts with no need for software training or prior knowledge of accountancy.
KashFlow has been featured in the likes of the Financial Times, Daily Mail, The Daily Telegraph, The Mail on Sunday, BBC Radio and all the leading accounting titles.
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