IRIS Elements Enterprise ensures real-time data synchronisation between accounts production and tax. Credit: Summit Art Creations/Shutterstock.

 IRIS Software Group has launched IRIS Elements Enterprise, a new cloud-based accounting suite designed to aid accountancy firms in managing complex client needs.

The platform is tailored to support firms in staying compliant with regulatory changes, including the forthcoming Making Tax Digital (MTD) requirements from HMRC, the company said.

IRIS Elements Enterprise is designed to enhance profitability and client satisfaction for accountancy firms by offering advanced tools for financial statement production and tax return generation.

The platform will also address the need for compliance with Companies House and HMRC standards, catering to intricate client scenarios such as capital gains, capital allowances, losses, group relief, and research and development, the tech company added.

The new Enterprise tier introduces features that automate tax processes, reducing time spent on manual tasks and minimising errors.

Asset registers, partnership profit calculations, capital gains tracking, and automated tax calculations with error warnings are among the functionalities designed to improve accuracy and efficiency.

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In addition to automation, IRIS Elements Enterprise also ensures real-time data synchronisation between accounts production and tax, streamlining workflows and enhancing visibility into clients’ compliance obligations.

This integration facilitates quicker, more informed decision-making for accountancy firms, the company noted.

Looking forward, IRIS Software Group plans to expand the IRIS Elements suite with the introduction of IRIS Elements Practice Management Enterprise.

This upcoming offering will include advanced reporting, time and expenses tracking, and scheduling features to help firms optimise their compliance processes further.

IRIS Software Group accountancy managing director Mark Chambers said: “IRIS Elements Enterprise offers a seamless, secure way to get there, allowing firms to pay for what they need and add extra features as they scale up.”