Benefits of integrating IRIS 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, limited companies (FRS105, FRS1021A, FRS102, FRS101, IFRS), groups, doctors, farms and pension schemes.

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 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 as required.

How do I get started with IRIS Accounts Production?

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

1. Log in to IRIS and select 'Client|View'.
2. Select the magnifying glass next to the ‘Link to Bookkeeping’ field and then select the magnifying glass next to FreeAgent.
3. Enter the email or user ID and the password to link the account to IRIS Accounts Production.
4. Select ‘Posting|Select’.
5. Select the posting entry to import the data into.
6. In the postings screen, select ‘Advanced|Import from FreeAgent’.
7. In the import window, choose to either import the client’s annual trial balance or management period movements. If the client doesn’t have a default map selected, the required import map must be selected by selecting the ‘Import Map’ magnifying glass. Select the relevant IRIS maps for all the packages.
8. Enter the relevant information and select ‘OK’ to activate the import.
9. Once the import is complete, a results window will be displayed detailing the postings.