Scala licensee in liquidation
Waltham Abbey-based Accounting Masters went into liquidation last year after accounting software developer Scala withdrew the dealer’s licence to sell its software, the company’s liquidator said this week.
Paul Ellison, insolvency partner with Henley-based Hurst Morrison Thompson, estimated Accounting Masters owed Scala UK roughly #250,000. He said: ‘Scala took the view that it didn’t want to support companies through its trade account and it wanted the UK company to stand on its own feet.’
When Accounting Masters went into liquidation, its software contracts reverted to the software developer and around 15 staff moved to Scala.
Mike Burdett, who took over as Scala UK managing director in October, said Scala supported Accounting Masters to the end and would have liked to see the dealer continue.
‘We suffered a fairly significant bad debt. When they went into liquidation, it is part of the normal contract terms for the dealership to come to end,’ said Burdett.
At roughly the same time, Scala appointed the City of London office of Japanese telecommunications giant NTT as a new UK dealer for its products.
The UK re-alignment followed an earlier merger between Scala International, which concentrates on writing software, and its Budapest-based distributor, Scala Eastern & Central Europe.
The numbers you crunch tell a story. Your expertis...
26yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View article61% say providing financial support for their family is of importance to them, with 77% currently doing so Read More...
View articleStartups face unique financial challenges, such as cash flow volatility and equity-based compensation complexities. Innovative strategies and technolo...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleIn 2019, the a survey conducted by the FRC highlighted that only 17% of women held partner-level positions Read More...
View articleDains believes a corporate structure is the best way to maximise the benefits of its growth strategy Read More...
View articleBoth employer and employee will benefit from flexibility and cost-saving Read More...
View articleThere are nine key areas that accounting practices must get to grips with as client expectations and technological developments rise, while team membe...
View articleWhen employees publish opinion and statements on social and other online mediums, they may be leaving themselves open to interpretation of codes of et...
View article