InPractice ETB Financial Statements 6-in-1
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1.
Exempt Ltd 4.
Dormant Ltd
2. Abbreviated Ltd
5. Sole-Trader
3. Audit Ltd 6.
Partnership
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Produces
financial statements in HALF A DAY
30 days money back
guarantee if it does
not produce financial statements from ETB
One license for unlimited number of users/computers
First Version produced in 1995 - with upgrades over
the years it is well-efficient
Used in MS Excel
- no training courses needed
Made from 30 years of
audit/tax/accounts practice experience
Designed by auditor-accountant-tax general
practitioner assisted by computer programmers.
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After
a few uses of the software you can very quickly produce
a set of statutory financial statements. I have also
recently used the package to prepare accounts for
a sole trader the end result looking very professional.
Iain McManus BA ACA CTA, Epsom |
I
have always used manual ETB and I am not into I.T.
all that much. This software was easy to use and I
got familiarised very quickly.
Michael Cox,
Cox & Co, Essex |
The
software is very good and flexible. I ran some test
data and everything came together so quickly. Very
easy to use.
John Fallows, Burnley, Lancs |
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This
software is simple to use. It is reliable. I wish
I knew about it before I committed to the one that
costs thousands.
Charles Lambeth & Co, London |
It
takes me less than half a day to produce Ltd Co financial
statements with this software.
Alan Deighan,
Deighan & Co, Ilford, Essex |
I
have recieved the software and loaded it onto my computer.
This program enables me to complete my work much faster
and is excellent value for money, that is why I have
been buying it every year, since the year 2000.
R A Mitchell FCCA, Rochester, UK |
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SIX EASY
STEPS FOR THE SPEEDIEST FINANCIAL STATEMENTS PRODUCTION
1 - Enter the client's standing date in "Set up"
2 - Input Opening Trial Balance (get the comparatives)
3a-Enter the Closing Trial Balance provided by client
(auto-reverse opening balances)
3b-OR Enter bank control a/c in ETB (Incomplete Records,
brown paper parcel job)
4 - Edit "Notes to the Accounts", tick
box to suppress any note
5 - Print draft financial statements
6 - Adjust after final review, print, sign, issue fee
invoice!
Client meeting adjustments: Enter journals or over-write
single amounts
. Dividend
. Bad Debts Provision . Stock
. Liabilities
. Tax Provision . Accruals
. Prepayments
for instantly revised financial statements, lead schedules, ratios
and graphs.
The single amount is the
speed-feature of the classic Extended T.B. This is the
magic of InPractice ETB Accounts that rival accounts software
do not have. Your competitor accountants are not likely to
tell you about this advantage.
Edit the single stock figure to get the desired Gross Profit percentage
= calculate the "shrinkage" of stock (difference between
actual stock and the stock per desired GP%)
Platforms: Windows
XP, Vista, Windows7 or higher
Minimum: Excel 2000, 2003, 2007 or higher
Supply:
a link in email to click on for an instantaneous download
over the Internet
Request demo presentation |
This software is licensed yearly.
In the 2010 version, start date is any Day, any Month, 2009
or 2008. End date is any Day, any Month. in 2010.
All screens/prints show the a/c period ending in 2010.
For accounts periods ending in 2011, order the 2011 version
when required. Each year's software is upgraded for the latest
regulations and new short-cuts we develop from users' feedback. |
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DECISION
TO BUY
Q: Can I afford to invest
in this tool-of-the-trade?
Q: How much is the cost divided over
the number of my clients?
Q: Is the time saved worth
more than the cost?
Q: Do I want to be more profitable
with this speedy technique? |
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| Features
galore |
• 6-in-1 Financial Stmts
1 - Audit Co Ltd
2 - Exempt Co Ltd
3 - Abbreviated Co Ltd
4 - Dormant Co Ltd
5 - Sole Trader
6 - Partnership
• Print Closing TB without blank lines
• Print ETB excluding unused blank lines
• Automatic numbering in Balance Sheet link to Notes
to Accounts
• Unlimited number of clients
• "Notes to Accounts" squeeze up to exclude
blank spaces on print
• 99,999,999.99 - can take up to 99 million
• Option to print all pages of in one go
• Service Co: Excludes print of Cost of Sales and
Gross Profit if no stock or purchases
• "DRAFT DD-MM-YY" print on all pages option
• Suppress comparative in the first year
• FRSSE compliant
• Password to prevent unauthorised access
• Lead Schedules for each balance sheet line
• "0 0" value rows are visible but do not print
• Text in blue is open
for you to edit
• Any one currency
• Edit ledger A/C names
• ETB what if? for stock, dividend, bad debts, tax, accruals,
etc
• Arial font, smart looking financial statements
• 6 Graphs, 9 Ratios |
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Frequently
Asked Q & A:
Q: I am delighted to have found out
about this software. Can I see a sample before I buy?
A: Click on "Demo" button to request a presentation (Acrobat
.pdf file)
Q: Do the financial statements look smart?
A: Yes, they look very impressive. The print is on Excel's Ariel
font. Standard layout.
Q: Does it do Comparatives automatically?
A: Yes, input opening balances (last year's closing balances) and
financial statements automatically reflect the comparatives.
Q: Rows with Zero amounts this year and comparative
are unsightly. Does this exclude them?
A: Click the button "Print without 0 0 rows" to omit
such rows from the print. You see them on the screen but are omitted
from the print.
Q: It is very reasonably priced; is it really
a credible product?
A: Since we sell so many, we can charge this annual price. We know
you will like the simplicity and speed and so you might buy our
other software created in the same easy-to-use style.
Q: Is it upgraded regularly?
A: Yes. When you buy next year's version, it will be the latest
upgraded version. The first version was produced in 1995 and has
been enhanced each year since. It is now a sleek and efficient software
widely used by so many practitioners.
Q: I have something I made myself. Why should
I buy yours?
Professor Ray Panko's studies show 30% of home-made spreadsheets
contain wrong data and formulas, one error for every 100 cells.
UK's Customs & Excise study shows 11% spreadsheets contain errors.
Why take a risk with home-made spreadsheets? InPractice Software
has perfected this at such an affordable price. Why waste valuable
time and take a risk in your professional work?
Q: I spent a lot of money buying the other
software?
Many accountants are dissatisfied with their cumbersome accounts
production software. It is time consuming and so eats into profitability.
They feel "locked in" due to the original cost of their
purchase! Save time and trouble by using the affordable "InPractice
ETB Financial Statements". It is a commercial decision. |
Q: Is it the same as that other software?
A: No, the only similarity is the use of Excel.
Software is not like sugar or salt; the difference is in the experience
of its producer. That other Excel software is made by an insurance
broker's bookkeeper. "InPractice ETB Accounts" is made
by accountancy practitioners in general practice since 1970s, who
have been signing clients' accounts for over 30 years. You choose
your strategy and prosper accordingly.
Q: Can I amend an amount without contra journals?
A: Yes, all items in blue are open for editing. Items in blue can
be deleted or over-written at any time. The Financial Statements upgrade
instantaneously on amendment.
Q: Can I change title of a Control Account on
ETB?
A: Yes, Control Accounts in blue text can be renamed e.g. overwrite
"Bank A/C 2" with say "Deposit A/C" etc.
Q: I don't like to go on expensive courses.
A: No courses required if you know the basics of MS Excel i.e.
Open, Edit, Print, Save. It is that simple.
Q: Could I accidentally delete data?
A: Sensitive areas are locked-out and so users cannot accidentally
damage the integrity of the "below the bonnet" active programming.
User text in blue can be edited.
Q: Can it produce Sole-Trader financial statements?
A: Yes, the same Extended Trial Balance will produce financial statements
of:
. Co Ltd
. Sole Trader
. Partnership (up to 4 partners).
Q: Is there any software support at this price?
A: Yes, support is free extra but not part of the product sale contract.
Licensed users are welcome to e-mail us - click
here
If you are really stuck, 'phone us and we shall help you depending
on time availability. In any case, you are expected to know the basics
of Excel and Windows Explorer before you 'phone us, but we nearly
always help with that also.
Q: If I want some extra programming,
can you do it?
A: Yes, we can add-in adaptations, colour preferences, logo, etc,
of course subject to an add-on programming fee. |
Extended
Trial Balance!
Any
general practice accountant will confirm that the most efficient
technique for preparing financial statements from Incomplete Records,
is the 'Extended Trial Balance' (ETB).
ETBs have been widely in use in the UK from the middle of the last
century, peaking in the '70s and the '80s. ETB usage declined as
it became too expensive to train highly-paid graduates. Data was
input into heavy-weight bookkeeping software.
Escalating competition amongst smaller accountancy firms has resulted
in accountants charging very competitive fees for accounts production
work. So, the need to control the production costs has grown acute.
Since fees are tighter, time-consuming input into heavy-weight bookkeeping
software is no longer cost-effective for either smaller, or Incomplete
Records jobs.
The solution for this scenario has to be the greater use of the
ETB technique, wherever appropriate. It was the fastest technique
in the pencil and eraser days. Now used on Excel powered by a Pentium
processor, it works at lightening speed.
What is 'Incomplete Records'?
Small businesses do not have the time
or the know-how to write up ledgers. Most are able to issue sales
invoices and some can write their cashbook. They need their daily
bookkeeping to be simple since they prefer to concentrate on selling
their widgets.
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Flexibility
of InPractice ETB
InPractice ETB has been designed for flexibility and to keep control
over small business jobs. It allows you to flexibly disentangle
'Suspense A/C' data little by little, as and when the details
become clearer. InPractice ETB allows you to make adjustments
in the ETB with journals and over-write corrections.
The ultimate feature in InPractice ETB is the simplicity, speed
and effectiveness with which the following can be revised over
and over again until the accounts are ready to sign:
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accruals .
prepayments
. stock .
depreciation
. tax
provision . dividend
Enter just one amount and the programming takes over to reflect
it in both the Profit and Loss account and the Balance Sheet.
Revise that single amount and the financial statements are revised
in lightening speed. Along with lead schedules, notes to accounts
and graphs.
Since each control account balances to the penny, the whole ETB
will also always balance to the penny. InPractice ETB indicates
any differences with in-built diagnostics flagged in red. By the
way, if the difference can be divided by 9, it is an inversion
error (35 entered as 53, 92 entered as 29).
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