IRIS Elements Accounts Production

Allows accountants to generate compliant financial statements for sole traders, partnerships, LLPs and limited companies (FRS105, FRS1021A). These can be submitted to Companies House and HMRC, with the flexibility to adapt and produce the required output.

Benefits of integrating IRIS Elements Accounts Production

By importing a trial balance from IRIS into FreeAgent, it’s quick and easy to produce year-end accounts that can be submitted to Companies House and HMRC. IRIS allows flexibility to adapt the statements to produce the required output.

Financial statements that are compliant can be generated for sole traders, partnerships, LLPs and limited companies (FRS105, FRS1021A).

A map is provided by default that highlights any extra accounts that aren’t recognised to allow you to update the map whilst you import the trial balance, with the changes being saved for future. This reduces errors in rekeying the data and saves time by removing the need for manual data entry.

How IRIS Elements Accounts Production works with FreeAgent

Once a business/client is linked up to your FreeAgent account, simply import a trial balance from IRIS into the required chart of accounts in FreeAgent.

The client’s year-end accounts will then be prepared, ready to be submitted to Companies House and HMRC.

How do I get started with IRIS Elements Accounts Production?

You can prepare to file a client’s year-end accounts by following these steps:

Log in to IRIS, go to ‘Clients’ and select the relevant client.
On the ‘Accounts’ widget on the client dashboard, select the required accounts.
Select the ‘Trial balance’ tab.
Under ‘Connect to cloud bookkeeping’, select ‘Connect’ and select ‘Advanced|Import from FreeAgent’.
Select the required application from the list. You'll be taken to the application log in page where you can enter your client's credentials.
When prompted, select ‘Allow access’. You'll return to the ‘Trial balance’ tab in IRIS Elements once the connection has been made.
Select ‘Fetch TB from FreeAgent’.
Select the period needing imported and select ‘Fetch from FreeAgent’.
A summary of the trial balance will be shown. Select the year to update with these figures from the list.
Select ‘View mappings’ to view the codes that the trial balance will be mapped to. You can overwrite the description if you need to.
Select ‘Save changes’ to import the trial balance figures.