Impressive Companies House accounts filing stats for BTCSoftware
Date Published: January 16, 2017
Category: Accounts Production, Companies House, Practice Manager Solution
It was good to hear that more accounts were filed at Companies House using BTCSoftware technology. In November 2016 we saw a 184% increase on November 2015 in the amount of accounts filed using our software.
It was also reassuring to see a 96.6% accounts filing success-rate. This is particularly good news given recent reports that there has been an increase in the number of accounts being rejected by Companies House – see: Is Companies House rejecting more accounts?
Paper filing at the heart of rejected accounts
Adding his thoughts to why some businesses may find their accounts rejected, BTCSoftware CEO – Rob Ellis – said:
“More failures occur to those who file their accounts on paper. Filing using software like BTCSoftware’s enables accountants to benefit from automatic pre-checks on many items. These definitely help them to file more accurately first time around.”
When filing on paper, it can take at least a week to learn of a rejection. In contrast filing digitally enables faster feedback even if things do go wrong at Companies House.
Avoiding delays and hassle
“We’ve had a few people come to us recently who have prepared accounts with the wrong Company Registration Number (CRN). BTCSoftware’s Practice Manager product can help prevent this simple mistake because it enables accountants to quickly set up new companies via a live search on the Companies House database.”
When filing with the wrong CRN the filing mechanism in BTCSoftware’s technology advises accountants instantly what is wrong. It means this can be rectified in moments and a new (hopefully successful) filing can be made within minutes. If that was being done via a paper submission there would be a significant delay in finding out such a simple mistake.