Accounting and audit tech update: Avalara, HMRC and more

(August 2) Intuit, the parent company of bookkeeping software QuickBooks, has warned users that they risk being targeted by phishing emails. This is the sixth such warning issues by the firm this year, pointing to the possibility that QuickBooks’s software has become a target for cybercriminals.

(August 4) SME accounting tech provider Sage has announced that it has been approved as an official provider on HMRC’s list of MTD ITSA-compatible software. The firm says that its customers will be able to “easily” meet all five elements required by HMRC (Capture digital records; categorise transactions; file periodic updates; submit end of period statements; submit a final declaration tax return).

(August 8) Global tax compliance software firm Avalara has announced that it will be acquired by Vista Equity Partners. The all-cash deal worth $8.4bn will see the firm becoming private after four years on the stock market.

(August 16) Sage has announced that it has agreed to acquire Lockstep – a provider of cloud native technology that automates accounting workflows between companies. Sage has said that the acquisition will broaden its digital network and value proposition for SMBs.

(August 18) Sage has also launched Sage People Payroll in the UK. According to the firm, the new solution will seek to offer increased collaboration between HR and payroll, allowing for cost and time savings in addition to increased productivity.

If you’re in accounting or audit tech and have a recent update the market should know about, email [email protected].