Accountancy software provider Sage has launched its first hosted accounts software product, Sage 50 Accounts Professional Online.
The software, which is a response to huge demand for online accounts, will cost £900 per year, Accountancy Age reports.
It will allow businesses to have shared access with their accountants, a feature likely to be welcomed by financial professionals, and will also allow customers to access Line 50 via the web.
"We believe in listening to our customers and they are telling us that they would like to see the benefits that hosted accounting software can bring to their practices and their clients," said Sage's accountants division managing director, Greg Ford.
Meanwhile, the IT faculty of the Institute of Chartered Accountants in England and Wales (ICAEW) has been working on a new common standard for sharing data between accountancy IT applications, known as XAPL.
Sage has given its support to the project and is likely to incorporate the system in the future. However, rival software provider IRIS has not made a commitment to incorporate XAPL into its own applications.
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