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.”