HALF DAY TO PRODUCE
STATUTORY FINANCIAL STATEMENTS
Made for IFRS small companies.
i.e. not for PLCs and medium -sized extensive disclosure.
ETBs is used widely since 1950s for production of final accounts i.e. year-end financial statements.
ETB was the fastest technique in the pencil and eraser days; on MS Excel it works at lightning speed.
Accountant's fees for financial statements production work are competitive. This software is wonderful for "Incomplete Records" work of SMEs i.e. small companies and sole traders and partnerships. To be profitable it is best to use this rapid ETB technique.
Incomplete Records: Small businesses do not have the time or the know-how to write up ledgers. They issue sales invoices and some write up their cashbook. They need their daily bookkeeping to be simple since they prefer to concentrate on selling their "widgets".
InPractice ETB Financial Statements software is bought and used in
- U.K.
- Cyprus
- Ireland
- Gibraltar
- Hong Kong
- Singapore
- Malaysia
- Saudi Arabia
- Antigua and Barbuda
- Br. Virgin Islands
- Jamaica
- Kenya
- Mauritius
- Zambia
and other countries.
They use it for rapid production of financial statements. They may replace Directors Report, Audit Report (and sometimes Notes to Accounts) with their own country wording which they prepare separately on MS Word by using the accounts balances from this ETB software.
♦ First Version produced in 1995 and upgraded over the years; it is sleek and efficient.
♦ Made from 30 years of audit-accounts-tax practice experience.
♦ Designed by UK auditor-accountants assisted by computer programmers.
♦ Updated annually.
2013 version:
Start date is
DD-MM-2012 or 2013
End date is
DD-MM-2013
♦ All screens/prints show
the a/c period ending in 2013
♦ For a/c periods in 2014
order the 2014 version
♦ Each year's version is upgraded for:
- the latest regulations
- best practice
- new shortcuts developed
- suggestions by users
♦ PLATFORM: Windows 95, 98, 2000, XP, Vista, Windows7 or higher
♦ SOFTWARE: Excel 2000, 2003, 2007, 2010 or higher
♦ DELIVERY: Email sent with a link to click on for an instantaneous download
Q: It is very reasonably priced; is it really a credible product?
A: Since we sell so many, we can charge this annual price. Users buy our other software made in same style.
Q: I have something I made myself. Why should I buy yours?
A: Professor Ray Panko's studies show 30% of home-made spreadsheets contain faulty data and formulas, one error for every 100 cells.
Q: Can it produce Sole-Trader financial statements?
A: Yes, it produces financial statements of Sole Trader and Partnership (up to 4 partners).
tware efficiency Clarity International Auditing Standards ISAs hot cold File Review Financial Statements accounts efficient ETB Exempt checklist Report New Client IR35
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1 Audit Co Ltd
2 Exempt Co Ltd
3 Abbreviated Co Ltd
4 Dormant Co Ltd
5 Sole Trader
6 Partnership
30 days money back guarantee if you prove it does not produce financial statements from this Extended Trial Balance (ETB) software.
EASY STEPS FOR SPEEDIEST
FINANCIAL STATEMENTS PRODUCTION
♦ Enter standing data in "Set up"
♦ Input Opening Trial Balance
♦ Enter the Closing Trial Balance
OR
Enter bank control a/c - Incomplete Records
♦ Edit Notes to Accounts - tick box to suppress
♦ Print draft financial statements
Re-Print for any review adjustments
Adjust in ETB to instantly update Financial Statements
Q: What if the amount is different for Dividend, Stock, Bad Debts Provision, Tax Provision, Accruals, Prepayments?
A: Over-write the amount on ETB and the programming takes over to instantly provide revised financial statements.
The single amount edit is the speed-feature of the classic Extended Trial Balance. Revise that single amount and the financial statements are revised in lightning speed.
This is the magic of InPractice ETB Accounts that rival accounts software do not have!
Change the single stock amount to see the revised Gross Profit percentage
= calculate the "shrinkage" of stock
(difference between actual stock and the stock per desired GP%)
InPractice ETB Fianacial Statements Production has been designed for flexibility:
- disentangle 'Suspense A/C' data as and when details become clearer
- make adjustments in the ETB by journals
- over-write amounts.
Since each control account balances to the penny, the whole ETB will also always balance to the penny.
Differences are flagged up with its in-built diagnostics in red. (If the difference can be divided by 9, it is an inversion error e.g. 35 entered as 53, 92 entered as 29).
Q: Can I see a sample before I buy?
A: Click on "Demo" button.
Q: Do the financial statements look smart?
A: Yes, prints in Excel's Ariel font.
Q: Does it do Comparatives automatically?
A: Yes, input opening balances automatically reflect the comparatives.
Q: Rows with zero amount this year and zero for comparative are unsightly. Does it exclude them?
A: Yes, click button "Print without 0 0 rows".
Q: Is it the same as that other software?
A: No, the only similarity is the use of Excel. That other Excel software is made by an insurance broker's bookkeeper. "InPractice ETB Accounts" is made by accountancy practitioners since 1970s signing clients' accounts.
Q: Could I accidentally delete data?
A: Sensitive areas are locked-out.
Q: Is there any software support at this price?
A: Yes, support is free by e-mail us but we hardly ever get any enquiries.
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No need to attach iXBRL financial statements to UK Corporation Tax Return. When filling in CT600 online, Stage 2 populates the "Accounts" data to act as a double check and be linked into your Corporation Tax Return. So, this software SAVES YOU VALUABLE WORK TIME.
TESTIMONIALS
"I have used InPractice ETB Accounts Production software for fifteen years. The lack of IXBRL on this software does not pose a major problem as the data can be easily transferred to HMRC’s website which takes 40 minutes and has an inbuilt review and checking facility."
- Colin Cunningham, Capital Accounting Services, London, UK
"I moved back from “VT Final Accounts” to “InPractice ETB Accounts” because it is faster and more suitable for Trial Balance based accounts that only require journals to complete."
- Henry Hardoon, London, UK
"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 2000."
- R A Mitchell FCCA, Rochester, UK
"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, UK
"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, UK
"It takes me less than half a day to produce Ltd Co financial statements with this software."
- Alan Deighan, Deighan & Co, Ilford, Essex, UK
"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, UK
"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, UK
Q: Since I spent a lot of money buying the other software which is cumbersome and time consuming but I feel "locked in". Why should I discard it?
A: It is a commercial decision whether you prefer to be more profitable by saving time from switching over to the affordable "InPractice ETB Financial Statements Production".
Q: If I want to suggest changes, can you do it?
A: Yes, users are welcome to send suggestions for future upgrades.
Q: Can I amend an amount without contra journals? change title of a Control Account?
A: Yes, all items in blue are open for editing. Items in blue can be deleted or over-written.
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