There is about to be a change in Accounting Standards within UK and Europe, which will mean changes will be required to many business accounting software packages currently on the market
(PRWEB) September 30, 2004 -- Nowadays in the UK there is a huge number of accounting software packages. Almost without exception they all have their own niche marketplaces. However there is about to be a change in Accounting Standards within the UK, which will mean changes will be required to many packages currently on the market.
Until now accounting software in the UK has met GAAP Standards, (Generally Accepted Accounting Practice) but soon businesses will have to get used to a new standard is being introduced, IAS (International Accounting Standards).
Larger companies will be required to convert to the IAS standard starting from next year but the expectation is that everyone will make the change in time. This may require a change or at the very least an update on your existing business software package.
However, one software company (Nimble Creations Ltd, based in Christchurch New Zealand) has recently researched the current requirements for IAS and is pleased to report that their software can be configured to meet all known requirements of IAS or GAAP.
Nimble Director John Wilkinson spoke about how their software can cope with the change. "In fact, our software can produce accounts in both formats at the same time if required" he told us.
"Further more, Data can be transferred from your existing system to Nimble with little fuss, thus easing the drama of any change-over required."
The major reason for this is due to the structure of the Nimble Accounting Engine. Unlike many software packages Nimble has an entirely free-format Nominal Ledger with a user defined report writer for the creation of Balance Sheets, Profit & Loss Statements, Trading Accounts and the likes. This means that with the correct set-up, Nimble is able to produce almost any structure of report that may be requested, as well as drill-down through the entire postings throughout the Nominal Ledger.
All Nimble software is fully integrated, and every transaction that goes through the system can be fully tracked with ease. Plus user defined date restrictions to control operator errors with the ability to use the System to roll these for you at the end of each period thus making this a breeze.
Obviously, Nimble are very proud that their software meets the new regulations without any need for expensive re-development.
"Nimble is a true multi user, fourth generation system," said John Wilkinson. "The system is viable in a number of standard configurations to suit a wide range of industries while also providing full bespoke capabilities for the larger, and the more discerning businesses."
Nimble is distributed in the UK by Lobster-iT Limited, a company based in Cardiff, and headed by Russell Davies. Russell has been trained by the principles of Nimble Software and is well versed in the many setup options available. He is also currently in the process of appointing a network of dealers for the software and these dealers in turn receive training direct from the principles of Nimble.
Russell told us "You will experience fewer problems with the transition from your old accounting standards to the New IAS Standard if you are running Nimble at the time as this will be just a new report".
He continued, "You will even be able to produce your final Accounts in both Standards at the same time using Nimble".
For more information on Nimble or to arrange a demo of the system call Russell at Lobster-iT now on 0870 762 3087 for a free quotation or visit www.lobster-it.co.uk.
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