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SimplyBiz puts accounting system online

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Hannah Stodell

SimplyBiz is offering an online book-keeping system to help IFAs with FSA returns.

Accounting Solutions is designed to help advisers complete their FSA Gabriel returns and is available exclusively to SimplyBiz members for a monthly fee of £10. It has been developed with accountancy software firm Arithmo Accounting Solutions.

SimplyBiz compliance director Gary Kershaw says: “Advisers with problems completing their Gabriel returns constituted nearly 50 per cent of the total number of calls into the compliance helpdesk last year, therefore we know there is a real need out there for a bookkeeping system which can produce reports in a format compatible with Gabriel, and we are delighted to be able to offer this exclusively to our members.”

Arithmo director Mike Parkes says: “Our main goal was to create an easy-to-use system without any jargon.”

Finance and Technology Research Centre director Ian Ian McKenna says: “At £10 a month, you do not have to achieve a lot of economies for this to pay for itself. Regulatory reporting ought to be possible for advisers to achieve far more cost-effectively using technology so it sounds like a good thing to me.”

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Readers' comments (1)

  • The whole area of technology is a complex one for most IFA firms to get their complete heads around, and for most the cost savings both time and money (surely the same thing) can be great.

    I am pleased to see Simply Biz moving in this direction, and of course look forward to the day when all IFA Firms and Networks do the same.

    Richard Smith IFA / Tech Consultant

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