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How can I identify which notes (under Edit Notes) are required by company law (FRS 102 1A)?
Filter options are available within Edit Notes (from version 6.2); the combo-box includes options show only notes that are required by law (aka mandatory) OR encouraged by FRS (applies to FRS 102 1A only); and another to show only notes that are on OR off (all standards). The addition of these...
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15 Feb, 2018
Views: 149
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Why have some of my notes been turned off/excluded after updating?
We’ve listened to customer feedback with regards the default inclusion of selected notes. As a result, a review of all notes has been carried out and on version 6.2 the master defaults have been updated to only include (either automatically or where relevant postings exist) those notes that are...
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06 Feb, 2018
Views: 141
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How do I add a firm and/or client logo to the front cover of financial statements?
Adding a firm and/or client logo gives you the chance to add some personality and branding to your client’s accounts. Through Admin Centre and Practice Manager, you can now add a firm and client logo quickly and easily. Adding a logo to your firm’s details within Admin Centre: Go to Admin...
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20 Aug, 2020
Views: 126
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Error #3207 'This account has been suspended'
The error message #3207 'This account has been suspended' means that there is an invoice outstanding at Companies House side which needs to be paid before they re-activate the account. Because a credit account is required for the use of Companies House Forms and Company Incorporator, this is the...
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19 Mar, 2019
Views: 126
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How do I show a split of all Fixed Assets within the Notes to Financial Statements?
A small company is only required to disclose Fixed Assets under the following headings: Intangible = Goodwill, Other intangible assets Tangible = Land and buildings, Plant and machinery, etc. Where you wish to show a split of all assets within the Intangible and Tangible Fixed Asset notes...
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26 Mar, 2020
Views: 112
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Why am I getting a rounding difference?
Rounding will take place where the Trial Balance is rounded to pounds and the Debit and Credit rounded totals do not agree. As standard, any rounding difference will be allocated to the account code specified under Rounding Differences at the bottom of the Posting screen (default rounding...
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13 Aug, 2020
Views: 111
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Why has the Report of the Auditors’ changed?
The Report of the Auditor's has been updated (from version 6.2) for periods starting on or after 17 June 2016 to support the requirements of ISA (UK) 700 (Revised June 2016) and other reporting requirements of the ISAs (UK). The FRC has provided a compendium of illustrative auditor’s reports...
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06 Feb, 2018
Views: 110
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What needs to be disclosed in the Average Number of Employees Note for a Small Company?
The Notes to the Financial Statements for a Small company must disclose the average number of persons employed by the company in the financial year. Only the total average number of employees is required. Within TaxCalc Accounts Production go to Notes > Edit Notes > Average Number of...
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26 Mar, 2020
Views: 98
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Do I need to disclose the Average Number of Employees if they are NIL?
Yes. The Companies Act s411 (3) & (4) states: (3) The average number required by subsection (1)(a) or (b) is determined by dividing the relevant annual number by the number of months in the financial year. (4) The relevant annual number is determined by ascertaining for each month in the...
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26 Mar, 2020
Views: 95
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Why am I getting a Check and Finish warning that my Balance Sheet does not balance?
This situation may occur where balances have been posted to Director’s Loan Account (account codes 5400, 5401 & 5402 and/or 5800) and allocated to specific Directors. The individual postings are rounded separately but the overall total of the Director’s Loan Account for the specific...
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13 Aug, 2020
Views: 94
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How do I change the Audit Information note within the Registrar Financial Statements?
The content within Audit Information note is generated from information provided for Report of the Auditors’, within the Full Financial Statements as found within Edit Notes > Auditors’ Report. A preview of the Audit Information note can be found within Edit Notes > Audit Information.
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06 Feb, 2018
Views: 93
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Advanced Rounding Rules - General Rounding:
Where Apply advanced rounding rules has been selected, a separate rounding account is allocated for BOTH Profit and Loss Account and Balance Sheet rounding differences. Any difference found within account codes 0000 – 3999 will be allocated to the Profit and Loss Account rounding account...
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13 Aug, 2020
Views: 93
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Why am I getting a Check and Finish Message about the Average Number of Employees?
You will see a warning within Check and Finish where: The average number of employees has not been entered within Edit Notes. The Average number of employees note has not been disclosed e.g. Include this note = No. To clear the C&F warning please make sure the note is included within...
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26 Mar, 2020
Views: 87
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Can I create a Trial Balance in round pound?
In TaxCalc’s Account Production you can now opt to generate a Trial Balance in round pound allowing you to review the figures exactly as they would appear on your Financial Statements. Within Accounts Production select Reports from the menu. Select Trial Balance. Click Customise. Ensure...
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27 Nov, 2019
Views: 76
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Why am I getting an Audit Information note within the Registrar Financial Statements?
An Audit Information note is included within Audited Registrar Financial Statements (in place of the Report of the Auditors’) in accordance with the CA s444(5B) (from version 6.2).
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06 Feb, 2018
Views: 73
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