The new millennium bug – really?!?!

Posted on January 15th, 2010 Anthony Boggiano No comments

Just been reading this article on AccountancyAge and was pretty amazed that such guffery (in effect, iXBRL will have as big an impact as Y2K)  is still tolerated these days – take a look here

Whilst the change to iXBRL is a big one and will involve software house working like crazy to deliver it, consider this – any software house that does not deliver by April 2011 will be out of business.

I think that is enough of an incentive to ensure those who wish to remain in this marketplace actually deliver.

As we have said previously, the end user really has the easy ride in this one – check your supplier has committed to deliver iXBRL by April 2011 (ideally before this date, as Keytime has) and stick to them like glue. After all, the fears and scaremongering over Y2K were completely unfounded.

The real problem will arise for users of unsupported products or practictioners who are using spreadsheets for the production of accounts and CT returns – they are going to have to make a decision to purchase commercial software that will deliver the necessary functionality.

AuditMan from CSM is one such product that springs most to mind – CSM were very succesful at selling this product and at one stage it was one of the most widely used pieces of accounts production software in the country. Then Sage bought CSM and the rest is history.

However, CSM users liked the product so much they continued using it – but iXBRL will put a spoke in that particular wheel.

So, all you AuditMan and Excel users out there, give us a call on 0161 484 3500 and talk to us about how your firm deals with the move to iXBRL for Accounts Production and Corporation Tax and we can promise you a smooth upgrade at a great price.

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