KashFlow Announces Winter Release, with Magic Bank Reconciliation™ & Pensions Auto Enrolment

KashFlow radically simplifies accounting for SMEs with new release
KashFlow Payroll is now Workplace Pensions Auto Enrolment ready

11th December 2014: UK small businesses are set to benefit from radically simplified bookkeeping with the launch today of the KashFlow Winter Release, which promises to drive even more time savings and make the bookkeeping, accounting and payroll processes for SMEs even easier.

KashFlow Winter Release from KashFlow on Vimeo.

The Winter Release introduces Magic Bank Reconciliation, which speeds up SMEs’ daily bookkeeping by automatically calculating their target reconciliation balance, and flagging transactions already imported into KashFlow as pre-reconciled. All users need to do is review, approve or amend the pre-ticked transactions before completing the reconciliation, saving them time and leaving them in control of their finances.

These transactions are imported using Automatic Bank Feeds, a feature that includes auto-matching rules that suggest the best matches for these transactions among existing invoices and purchases recorded in KashFlow. Users can also set their own rules to automatically create invoices, purchases and transactions direct from their bank feed.

The Winter Release also includes a significant investment in KashFlow Payroll, with the introduction of Automatic Enrolment (AE) assessment, to assist business owners in meeting their legal obligation to provide employees with a workplace pension, as set out by the Pensions Regulator. The new assessment capabilities enable small businesses to easily comply with AE requirements and avoid potential fines. The new AE service enables business owners to assess their workforce, automatically enrol qualifying employees and calculate the required employee and employer contribution levels.

Part of the IRIS Software Group, KashFlow is a leader in the online bookkeeping & payroll sector. KashFlow is integrated with the leading Accountancy Practice Software from IRIS, used to produce tax returns and accounts by over half of all UK accountants. As part of the IRIS Cloud Suite, KashFlow enables SMEs to collaborate with their Accountant in real time, to ensure they get the most accurate, up to date business advice, while remaining compliant.

Phill Robinson, CEO of IRIS Software, says:

“We’ve spent the past four years building our cloud capabilities to help small businesses quickly and easily complete their bookkeeping, accounts & payroll, as well as foster closer working relationships and collaboration with their accountants. We have accelerated our efforts over the last year and are pleased to have the most complete offering in the marketplace. We have been delighted with the level of adoption of KashFlow and our IRIS Cloud Suite, with over 170,000 small business subscribers now using KashFlow and IRIS to help run their business.”

Sue Goble, CEO IRIS Cloud Division continues:

“We’re seeing exceptional demand for solutions that make business life easier. We’re continually seeking to introduce time-saving features. In the Winter Release, we’ve introduced Magic Bank Reconciliation in KashFlow, making it far quicker for small business and their bookkeepers or accountants to reconcile their books.”


Key Facts:
– KashFlow is part of the IRIS Cloud Suite, the industry’s first end-to-end cloud offering that allows small business and accountancy practices to collaborate and run on cloud technology
– Over 6,000 Accountancy Practices now use at least one cloud solution from the IRIS Cloud Suite to help to collaborate and connect to a community of over 170,000 subscribing SME customers.

About KashFlow Software

KashFlow is part of the IRIS Software Group, offering online bookkeeping, accounting and payroll solutions for small business owners. With 35 years’ experience, the IRIS Software Group provides business critical software and services to the UK accountancy and SME sectors.

IRIS offers the greatest range of specialist accountancy and payroll solutions – delivered as a choice of integrated on premise software and cloud-based applications such as KashFlow.

As a leading provider of payroll and bookkeeping software IRIS serves SMEs, corporates, payroll bureaus and a number of industry sectors including 50 per cent of UK GP practices. More than 18 per cent of UK businesses pay their employees via IRIS payroll solutions. For more details visit www.iris.co.uk

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