To empower accountancy firms to achieve more, the award-winning cloud-first working papers solution MyWorkpapers has launched its innovative General Ledger functionality.

This enhances the existing trial balance functionality, which will grant users the ability to import transactional data into the platform.

Importing General Ledger data will initially be available through CSV import with additional integrations being added in the future.

This information can then be used to check and validate data and see if discrepancies exist thus permitting all of the transactional work for the financial year of the engagement to be done in one place.

This latest development will further enhance the efficiencies already offered by MyWorkpapers and is based directly on recent developments within the platform and on feedback from existing users.

Talking about the benefits that General Ledger offers, Rich Neal, MyWorkpapers CEO, said: “This feature really bolsters the existing abilities of our platform and offers users a far more simple and efficient process when managing their general ledger.

“Rather than having to switch between various platforms and data sources, they can now enjoy a single point of clarity through which their work can be done.”

MyWorkpapers says that this latest innovation also ensures that a permanent history is retained by the accountancy firm, which can help in situations where clients, or the practice themselves, choose to move accounting or bookkeeping systems.

“This initial launch is just the beginning, and we fully intend to develop our General Ledger feature to open up further opportunities for firms to utilise data analytics, industry benchmarking, risk assessment and other functionality all within MyWorkpapers,” added Rich.