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Advanced Rounding Rules – Partnership Capital Account
When Apply advanced rounding rules has been selected, a series of reconciliations and rounding adjustments will be carried out to make sure the rounded closing position, for each Partner’s Capital Account and each separate account code, matches the rounded opening position in the subsequent...
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21 Jun, 2022
Views: 957
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Frequently Asked Questions about Accounts Production
Why have some of my notes been turned off/excluded after updating? Can I change the default text for a note and apply it to all clients? How do I include the Statement of Changes in Equity within the Registrar Financial Statements? How can I identify which notes (under Edit Notes) are required by...
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17 Mar, 2020
Views: 945
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Can I add anything further to the CSV outputs?
The default CSV outputs vary for each report. For the Audit Trail, the default columns provided for are: Transaction Number Account Code (from the chart of accounts) Account Description Narrative WP Reference (Working Papers) Debit Credit Date For the Nominal Ledger, the default...
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30 May, 2023
Views: 943
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Advanced Rounding Rules - Fixed Assets
Where Apply advanced rounding rules has been selected, a check will be made on the un-rounded and rounded totals of Cost and separately of Depreciation/Amortisation of each Fixed Assets. Where a difference occurs, the rounding amount will be allocated to an account code within Cost and...
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13 Aug, 2020
Views: 905
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Advanced Rounding Rules – LLP Loans and Other Debts Due to and from Members
When Apply advanced rounding rules has been selected, a series of reconciliations and rounding adjustments will be carried out to make sure the rounded closing position, for each Member’s Capital Account (account 7500), matches the rounded opening position in the subsequent accounting period. ...
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21 Jun, 2022
Views: 858
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Why can I no longer generate Abbreviated Accounts?
Abbreviated Accounts can still be generated for filing at Companies House for accounting periods starting before 1 January 2016.However, as part of the changes to the Small Companies Regime, the option to prepare Abbreviated Accounts was removed and therefore can no longer be applied for periods...
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06 Feb, 2018
Views: 855
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How can TaxCalc help me prepare accounts under COVID-19?
Companies are having to consider how the impact of COVID-19 affects their business and how these affects should be reported in the accounts. This will require some additional disclosures to explain how recent events are affecting their business. To assist you with the preparation of COVID-19...
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13 Jan, 2021
Views: 829
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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: 810
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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: 808
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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: 749
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Producing a Multiple-Year Trial Balance
To produce a multiple-year trial balance, within Accounts Production select Reports > Trial Balance. Select Customise. The options are available to include additional periods and/or produce a column for Variance £ or %.
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04 Jul, 2023
Views: 727
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How do I show “Cost or Valuation” on the Fixed Assets notes?
The Intangible and Tangible Fixed Asset notes will make reference to “Cost or Valuation” automatically where a posting to has been made to a revaluation account code in the year (on any asset). Should revaluation have taken place in previous years, to continue to refer to “Cost or...
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26 Mar, 2020
Views: 716
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Unable to connect to FreeAgent – Unable to fetch trial balance
When connecting to FreeAgent in Accounts Production, users may see Unable to fetch TrialBalance, Error: An error has occurred – please contact support if this error persists’ message. This error occurs if a user has not been set with the correct permissions within FreeAgent. Users will need...
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12 Dec, 2018
Views: 698
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Do I have to submit the CIC Report if a company is dormant?
Dormant community interest company must file a CIC Report form together with the set of accounts. The CIC Report for a dormant company should state what the CIC has been doing in order to prepare for trading. However, if there has been no activity at all then the CIC should state that it has been...
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22 Apr, 2025
Views: 696
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Advanced Rounding Rules – Directors Loan Account
When Apply advanced rounding rules has been selected a check will be made on the un-rounded and rounded totals of each Director within each DLA account code. Where a difference occurs the rounding amount will be allocated to the first Director with a balance within the same account code. For...
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13 Aug, 2020
Views: 695
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