Key features of accounts production software for accountants

For accountants, cloud-based accounts production software plays a key role in making the accounts production process faster, more efficient, and more accurate. It ultimately offers a complete solution for preparing and filing accounts (integrating directly with Companies House and HMRC), while keeping you compliant with the latest legislation, too. 

But, before you invest in accounts production software, it’s important to know what features to look out for. Here, we’ll give an overview of the key things to consider when going tech-shopping – using Capium’s own accounts production software as an example throughout. 

What is the core function of accounts production software?

Before diving into what features make accounts production software worthwhile, it’s worth understanding why accountants should use cloud-based accounts production software in the first place. You can read our full article here, but in a nutshell, accounts production software makes it easier for you to prepare and manage statutory accounts for your clients. 

Essential features in accounts production software

Here’s what to look for when deciding which accounts production software best suits your firm:

• Ease of use and navigation – good accounts production software will have a simple interface that makes it easy to use and intuitive to navigate, meaning it’s quick for new users to learn and start working with. Capium accounts production software’s intuitive interface makes submissions quicker, too – with one-click submission to HMRC and full view of status and confirmation.
  
• Compatibility with existing systems – data silos are an accountant’s worst nightmare, so it’s important to check upfront that the accounts production software you’re looking at will integrate both with your existing software and systems, and directly with Companies House. With us, your data is auto-updated across all other Capium software, saving you from having to update it yourself.
• Effective automations – automation is designed to reduce the amount of time you have to spend on manual tasks, so, for the biggest efficiency boost, look for software that’s highly automated. Automating data entry and calculations also reduces the risk of human error, too.
• Compliance, compliance, compliance – using accounts production software means you shouldn’t have to worry about compliance, as it’ll be regularly updated to meet the latest financial reporting standards, from GDPR to FRS 102 or iXBRL.
• Scalability and flexibility – like all tech investments, the accounts production software your firm needs right now could be vastly different to the software you’ll need in a year’s time. That’s why it’s important to choose software that can grow with you and adapt as your needs change. This is especially important when it comes to the cost and pricing structure, too. 
• Customer support and training – we’ve said it before and we’ll say it again, accounting software is only as good as its user! Before committing to a specific accounts production software provider, make sure to ask what their customer support and training resources are like. At Capium, we’re proud to offer free telephone support to our clients, six days a week. 

How accounts production software can support your practice’s growth

Choosing the right accounts production software is a smart move if you’ve got ambitions to grow your firm longer-term. By making you and your team more efficient, software can set you up for success – particularly if you select it with your ambitions in mind. 

Knowing what features to look out for should make your decision a little easier. If you’d like to see how we approach accounts production software at Capium, sign up for a 7-day free trial to see the difference it could make to your firm.