IRIS updates Elements Professional Edition and confirms future roadmap 

London, UK, 8 May 2024: IRIS Software Group (IRIS), a leading global software provider of accounting, edtech, HR and payroll solutions, today unveiled a series of product updates for its unified cloud accountancy platform, IRIS Elements.  

Elements is designed to automate workflows so accountancy practices can further digitise their operations without having to switch between multiple applications. IRIS has over 24,000 accountancy customers, 6,000 of which use Elements to run their practice. Elements utilises a single client record, enabling firms to onboard clients, produce and file accounts, conduct tax calculations, submit returns to HMRC and maintain practice-wide anti-money laundering compliance on a single cloud platform. 
 
Mark Chambers, Managing Director for Accountancy at IRIS commented: “We understand that market innovation and thoughtful product updates have a lasting effect on our customers’ business. Whether it’s transitioning to the cloud or simplifying existing software complexities, IRIS Elements caters to firms of all sizes. We remain steadfast in our commitment to supporting accountants and bookkeepers throughout their technological journeys.” 
 
2024 Updates to Elements Professional Edition 
In May 2023, IRIS introduced Elements Professional Edition, which caters to start-up practices, sole practitioners and bookkeepers as well as medium sized practices with more complex requirements. With today’s Spring 2024 update, IRIS has introduced a number of enhancements: 

IRIS Elements Professional Edition for Accounts Production 

• Produce accounts for limited liability partnerships (LLPs): With this new feature, IRIS Elements Professional Edition is better positioned to meet the needs of larger, two or three partner practices who may represent clients requiring more disclosure. 
  
• Leverage interconnected data: Using APIs, accountants can now quickly and more accurately extract, transfer and import data – including .csv files and third-party bookkeeping packages like Xero. 

IRIS Elements Professional Edition for Tax 

• Communicate as an agent directly with HMRC: Elements now includes the 64/8 ‘authorising your agent’ forms to help accountants streamline communications with HMRC about their clients’ affairs. 
  
• Avert compliance penalties: System refinements offer better visibility into upcoming compliance deadlines for filing VAT, accounts, self-assessment and corporation tax.  

Both modules now come with enhanced permission management features to further support practices with high profile clients. 

Looking Ahead 
Available this Summer 2024, IRIS will release a new Time and Expenses capability to give team members the ability to accurately track and report where they are spending their time. IRIS will continue to invest in advanced data tracking features to help customers answer key questions about their business, such as how profitable they are.  

Available during Winter 2024, IRIS plans to release IRIS Elements Enterprise Edition Tax and Accounts Production modules to help larger practices move to the cloud without needing to switch between different software applications. 

In 2023, IRIS Elements won ‘Cloud Innovation of the Year’ at the UK IT Industry Awards and ‘Cloud Vendor of the Year’ at the Computing Cloud Excellence Awards.