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TaxCalc Release Notes 2018

Article ID: 3047
Last updated: 08 Jun, 2020

Below are the Release Notes for previous versions of TaxCalc. Click to see the Release Notes for 2013-2016 > 2017 > 2019 > 2020

TaxCalc Product Update Version 7.0.012 Released on 17 December 2018

Applying the Update

Please note: if you are updating a TaxCalc release prior to v7.0.008 this update requires an installer to be run. Please ensure that you have local admin rights before attempting the update.

Update Summary

The following updates have been included:

  • Tax Return Production
    • A default validation message was preventing online submission where the taxpayer was female AND born between 06/10/50 and 06/04/51 AND was a member of two partnerships. This validation has now been updated to an information message so it will not prevent online submission. Please note, the warning will be removed completely in a future release as it is no longer relevant.
  • Accounts Production
    • In some situations "Creditors : amounts falling after more than one year" was being omitted from the balance sheet for accounts prepared under FRS 105 for both Limited Companies and LLPs. This has now been corrected.
    • In some situations "Debtors due within one year" was displaying an incorrect value within the notes to financial statements for accounts prepared under FRS 102 for both Limited Companies and LLPs. This has now been corrected.

TaxCalc Product Update Version 7.0.008 Released on 29 Nov 2018

The following improvements have been included:

Product Summary

  • eSign Centre Update
  • Tax Return Production Update
  • VAT Filer Update
  • NEW - VAT Filer for Business
  • Accounts Production Update
    • Integration with FreeAgent
  • Company Secretarial Update

Non-Product Summary

  • Update to TaxCalc Hub Framework
  • Resolved update issues experienced by some Customers when installing version 7.0.006

eSign Centre Update

New Features

  • It is now possible to:
    • electronically sign VAT returns, EC sales lists and HMRC forms. These documents can be added via the Add Document dialog in the Envelope SimpleStep, or it can be added using the Add to eSign Envelope button on the returns or forms themselves.
    • add new eSign Centre related work statuses to the VAT Work Status list
    • add, edit and delete email addresses from within the envelope SimpleStep
    • see who an envelope is currently with in a signing chain.

Usability Improvements

  • The right-click menu has been added to the main eSign Centre home screen.
  • Envelopes for individuals now automatically set the recipient to 'Signer'.
  • The client name has been added to the document name generation in the envelope SimpleStep.
  • It is now possible for a user to open multiple envelopes at the same time.

Reports

  • The Date Filed to HMRC is now populated in Report Manager in all situations.
  • Locked reports now display both Clients and Contacts (instead of only displaying Clients).

Tax Return Production Update

  • General bug fixes including:
    • Check & Finish to include information regarding property finance costs (where these could not be fully utilised).
    • Updates to HMRC exclusion messages.
    • Fixes for HMRC Exclusion 92 and HMRC Exclusion 93.

VAT Filer Update

Import Functionality

  • It is now possible to import from a Microsoft Excel Macro-Enabled Worksheet.
  • The import finish screen has been updated to display total boxes 3 and 5.
  • Spreadsheets with specific characters no longer restrict the display of cells.

Reports

  • The totals for boxes 3 and 5 and now included on all reports.
  • A small update has been made to the detailed adjustments report.

General

  • The term 'Final' has been removed from screens and reports.

NEW - VAT Filer for Business

  • MTD-compatible VAT Filing bridging software, ideal for:
    • Unrepresented businesses to comply with their MTD obligations.
    • Agents who do not provide VAT services but wish to provide their clients with a recommended solution.

Accounts Production Update

  • General bug fixes including:
    • When filing a CT600 the error 'Inconsistent duplicate fact values (core:Equity)' will no longer occur.
    • Blank pages will no longer appear when exporting printing Financial Statements or exporting to PDF.
    • Directors loan account code 5800 will now appear correctly within the Notes to Financial Statements in all situations.
  • Updates have been made to the Auditors' Report for both FRS 102 1A and FRS 105 to reflect ICAEW guidance.
  • Using our familiar import trial balance wizard, import a year end trial balance directly from online accounting software FreeAgent.

Company Secretarial Update

  • General bug fixes.

Update to TaxCalc Hub Framework

  • An update to the framework has allowed us to correct an issue that was causing some users to experience display problems and, in rare cases, inability to open the application.

TaxCalc Product Update Version 6.9.025 Released on 16 Oct 2018

The following improvements have been included:

Summary

  • VAT Filer (now MTD-ready)
  • General Updates

VAT Filer (now MTD-ready)

  • Access to VAT Filer has been updated to be consistent with all other TaxCalc products.
  • TaxCalc VAT Filer is now MTD-compatible, acting as bridging software to support the obligations for Making Tax Digital.
  • Supports multi-service VAT Return submissions:
    • Continue to file VAT Returns via the Government Gateway in the build up to MTD for VAT.
    • Continue to file VAT Returns via the Government Gateway for clients below the VAT threshold, who voluntarily opt in to VAT.
    • Seamlessly switch to filing via the 'MTD for VAT' service from 1 April 2019 (or as part of the MTD for VAT Pilot).
  • A digital link allows you to quickly and easily import any spreadsheet directly into your VAT returns using our intuitive onscreen cell selector.
  • Smart and simple wizards allow you to calculate and digitally record adjustments to your VAT return.
  • Keep an electronic copy of your supporting documents within easy reach by adding attachments directly to your VAT return.

    MTD only
  • Reduce errors and automatically create VAT periods by retrieving VAT obligations directly from HMRC.
  • Build a picture of your client's VAT history by retrieving previous VAT returns directly from HMRC. Ideal for newly engaged clients. (Note: Only applies to VAT returns submitted under MTD.)
  • Keep up to date and on top of your client's VAT position by retrieving VAT payments and liabilities directly from HMRC.

General Updates

  • eSign Centre
    • The auto reminder for an envelope has now been limited to a minimum of 12 hours.
    • A progress dialog on selecting Send Envelope will now be displayed.
    • An issue has been resolved which caused some users to be presented with an "Unable to send eSign envelope" error.
  • Tasks
    • Tasks created with a VAT return task type will no longer automatically create VAT periods on completions where the client is enrolled for MTD.
  • Policies

TaxCalc Product Update Version 6.8.046 Released on 20 September 2018

The following improvements have been included:

Summary

  • NEW - eSign Centre
  • NEW - GDPR Centre
  • General Maintenance
  • Policy Updates

NEW - eSign Centre

Introducing TaxCalc eSign Centre! Quickly prepare documents and send to clients to obtain electronic approval for sets of accounts and tax returns.

Features include:

  • SimpleStep allows quick creation of eSign envelopes.
    • Recipients list pre-populated from Relationships that already exist within Client Hub.
    • Add sets of accounts and tax returns directly into envelopes with a few clicks.
    • Smart and intuitive document tagging wizard allows drag and drop of signing tags.
    • Envelope History Report provides an audit trail of interactions with an envelope on completion.
    • Check and Finish provides peace of mind that envelopes have been created correctly.
  • Efficiently manage envelopes from the eSign Control Centre with simple progress tracking, automatic status updates and reminders.
  • Customise settings globally within Admin Centre, including Reminder Options, Email Templates and Envelope Options.
  • From within Accounts Production and Tax Return Production, add sets of accounts and tax returns directly to an envelope from the item of work.

NEW - GDPR Centre

Introducing TaxCalc GDPR Centre! Navigate the complexities of GDPR and stay on top of data protection obligations.

Features include:

  • A series of SimpleStep tools provide an intuitive process for recording and maintaining relevant data.
    • Complete and maintain Process Checklists.
    • Keep track of all personal data activities within Data Activity Registers.
    • Create Risk Assessments to identify and assess scenarios that carry a risk to the firm.
    • Record and assess any Data Breaches, and help prevent them from happening again.
    • Fulfil, track and file Data Subject Access Requests.
    • Check and Finish will highlight errors or mismatches of data.
    • Produce Summary Reports for communicating data to the appropriate person(s).
  • Carry out annual reviews with the simple creation of review points.
  • Within Admin Centre, log the appointment, training and actions of the Data Protection Officer (if applicable).

General Maintenance

Accounts Production

  • Check and Finish warning(s) "The following information does not match that held at Companies House..." have been updated and will no longer appear where:
    • a Company Name mismatch occurs as a result of a casing difference
    • the Account Period end date is returned from Companies House as 29 February.

Tax Return Production

  • In some situations the calculated value in box CAL1 and Tax payment/repayment summary was being incorrectly reported. This has now been updated to include a restricted Class 2 NIC value where appropriate.

Policy Updates

Terms & Conditions of Sale, End-User Licence Agreement and Privacy Policy

TaxCalc Product Update Version 6.7.017 Released on 28 Aug 2018

Updates to Accounts Production

  • Fixed an update issue introduced with version 6.7.016
  • Fixed an issue introduced recently whereby note selections are not always being reflected when producing Financial Statements. As a result, it is possible that some disclosures may be appearing incorrectly or not appearing when they should be.Users are advised to ensure notes have been included inline with selections for Financial Statements generated since 1 August 2018.

TaxCalc Product Update Version 6.7.016 Released on 23 Aug 2018

Updates to Accounts Production

  • Fixed an issue introduced recently whereby when the Include this note? Yes/No switches were first changed from their default, the Financial Statements produced thereafter did not consistently reflect those selections. As a result, it is possible that some disclosures may be appearing incorrectly or not appearing when they should be. Users are advised to ensure notes have been included in line with selections for Financial Statements generated since 1 August 2018.

TaxCalc Product Update Version 6.7.011 Released on 8 Aug 2018

Updates to Task Management and Client Hub

Resolved issues that:

  • Prevented an update for some customers with custom views.
  • Prevented Report Manager from working with some self-made reports.
  • Prevented data mining from returning results for tax work status.

TaxCalc Product Update Version 6.7.008 Released on 1 Aug 2018

The following improvements have been included:

Summary

  • Updates to Tasks and Task Management
  • Updates to Companies House Sync
  • Updates to Client Hub
  • Improvements to Companies House Forms / Company Incorporator Validation

Updates to Tasks and Task Management

  • Work Status Tracking
    • A work status (for Accounts, Tax and VAT) can now be tracked and progressed directly via a task.
    • The work status associated with a task is displayed within a separate column within task management.
    • The work status associated with a task can now be updated and re-assigned at the same time.
    • An icon to signify a period (Accounts, Tax and VAT) has been associated with a task is now displayed, next to the cog menu.
  • Task Management – General
    • Tasks can now be assigned to a contact.
    • The options 'Task Status' and 'Re-assign Task' have been combined into one option, Update Task' (which also includes the option to update the work status).
    • The task information panel has been updated to display more information about a given task.
    • Additional menu options have been provided to:
      • open linked work directly via a task
      • allow an ad-hoc note to be added to a task.
  • Task List
    • Tasks in their reminder period or overdue are now highlighted using colour coded indicators.
    • Recurring tasks and tasks associated with work now include an identification icon.
    • A client can now be directly accessed via the task list.
    • Columns can now be re-order and added/removed (on right-click).
    • Additional filters have now been included for:
      • client
      • linked work status
      • due within 1 day (included within 'Show me tasks that are' filter)
      • due within 7 days (included within 'Show me tasks that are' filter)
      • due within 30 days (included within 'Show me tasks that are' filter).
  • Task Wizard
    • The task wizard (create new/edit existing/duplicate) has been updated to use SimpleStep functionality.
    • The default selections and order of some fields have also been updated.
  • Client Hub - Client/Contacts
    • The menu tree has been re-organised (including the parenting of the 'Open In' and 'Set Work Status' options).
    • A new option 'View Tasks' (for selected client) has been added.
  • Client Dashboard
    • The 'Tasks assigned to me' widget has been updated to include:
      • colour to identify tasks that are in their reminder period and overdue
      • icons to identify tasks that are recurring/associated with work
      • additional filter options to only show tasks due within 1,7 or 30 days.
    • New 'Task summary' widget added (task type, task status)
  • Notifications
    • A new 'Assigned Task Notification' will appear when a task has been assigned to a user.
    • Additional options have been applied to the 'Commencement' and 'Overdue Task' reminders to help to progress a task.
  • Task Scheduler
    • Now includes an option 'View Tasks' (for client).

Updates to Companies House Sync

  • The 'Companies House Sync' wizard has been extended to include:**
    • All officer relationships for directors, company secretaries and PSCs (including their service addresses and a PSC's nature of control).
    • Allows the sync of relationships using an existing client/contact or using a newly created client/contact.
    • Allows the sync of addresses using an existing address or a newly created address.
    • Allows the sync of all data on a page or individual items of data.
    • Intuitive indicators showing where company data and relationships are not in sync.
    • Filter options to show pages in sync / not in sync and current/past officers only.
    • Familiar Check and Finish.
  • Use of the 'Companies House Sync' wizard as a comparison tool for ongoing maintenance and confirmation of data held on public record (to help with the preparation of the confirmation statement).
    • The option 'Sync with Companies House' is available from both main client list and individual client record (including Relationships).
    • Also includes the option to print page / summary report (to send to clients for verification of data).

**Features are included within Companies House Forms Unlimited or as a chargeable add-on to Client Hub.

Updates to Client Hub

  • A dedicated field for 'Usual Year-End' has been added to Client Hub (within Company Information) for Limited Companies.
  • Confirmation Statement date field is now used to populate CS01
  • The nature of control of a PSC can now be accessed from the relationship within a client's record in Client Hub.

Improvements to Companies House Forms / Company Incorporator Validation

  • The following improvements have been made to Company Incorporator:
    • Check and Finish validations have been updated to assist with error trapping.
    • Additional Check and Finish validations have been included:
      • Validate where a 'Same As' name check has not been performed.
      • Validate the use of 'Limited' (or permitted alternative) as a name ending.
      • A selection of other general form preparation and submission issues have been resolved.
    • A new check is now included under 'Check Name' to verify where a proposed company name includes sensitive words or expressions.
    • Improvements to the syncing of data between Company Incorporator and Client Hub.
  • The following improvements has been made to Companies House Forms:
    • Check and Finish validations have been updated to assist with error trapping.
    • Improvements to the syncing of data between Company Incorporator and Client Hub.
  • A new Check and Finish validation has been added to Accounts Production where the Company Name and/or Account Period End doesn't match that held at Companies House.

TaxCalc Product Update Version 6.6.024 Released on 11 Jul 2018

The following improvements have been included:

Tax Return Production - Corporation Tax

  • Inclusion of CT600G Northern Ireland Pages. The CT600G Northern Ireland Pages have now been included in preparation for the Northern Ireland Corporation Tax Rate changing (currently anticipated for April 2019).
    • Allows data entry for the split between Northern Ireland and the Rest of UK amounts to be entered as part of the SimpleStep routine or HMRC Forms mode, for the Core CT600 and Supplementary pages.
      Please note that any CT600 that has Northern Ireland boxes completed will fail online filing due to the business rules currently put in place by HM Revenue and Customs.
  • Improvements to AIA validation messages.
  • Updated the Research & Development Expenditure Credit (RDEC) rate to 12% for expenditure post 1 January 2018.

Individual & Trust Tax Return Improvements

  • New Feature! Foreign Tax Return Credit Relief reordering wizard. Allows reordering of the foreign income entered to see whether a more favourable foreign tax credit relief amount can be calculated.
  • Updated R185s to the latest versions received from HMRC.

TaxCalc Client Hub

  • The option to create a client using Quick or Full setup has been improved to always be a quick setup, with an option to continue entering client details.

TaxCalc Product Update Version 6.5.027 Released on 6 June 2018

The following improvements have been included:

Summary

  • Online Accounting Software Integration: QuickBooks Online (QBO)
  • Tax Return Production improvements
  • Client Hub – Mail Merge: Five new GDPR Engagement Letters
  • What If Planner 2018/19
  • Dividend Database update for 2017/18 information

Online Accounting Software Integration: QuickBooks Online (QBO)

  • Import a year-end trial balance directly from QBO (Posting > Import Trial Balance > Third Party API > QuickBooks Online).
    • Uses familiar import trial balance wizard.
    • Requires secure authentication.
    • A warning is provided on import where a Closing Date has not been entered within QBO.
    • Warnings are provided where an opening balances batch or a previous import already exist at the time of import (to prevent double counting).
    • Create a QBO import map.
    • All QBO import maps are created on a per-client basis allowing full customisation.
    • Import map can be started using:
      • default mappings based on the default QBO chart of accounts
      • an existing (CSV) import map
      • another client's import map.
    • Update mappings quickly and easily when required via the import wizard.
    • One-to-one mappings are stored and retained for future imports/years.
    • Import completes into a separate batch, which can then be edited/updated if required once complete. (Note: Any adjustments are not posted back to QBO).

Tax Return Production improvements

  • Validation to check whether the self assessment tax year is able to be filed online before submission, to reduce rejections.
  • HMRC SA110 Calculation Summary updated to the latest version from HMRC.
  • A new wizard for Foreign Land and Property for the Partnership SA800 return.
  • Business Integration Wizard validation will now disappear once a sync has been made.

New Feature: Client Hub - Mail Merge: Five new GDPR Engagement Letters

Engagement letters updated with suggested wording for the new General Data Protection Act:

  • GDPR Engagement Letters:
    • Firm's Terms of Business
    • Main Letter for Individuals
    • Main Letter for Partnerships and Limited Companies
    • Main Letter for Trusts
    • Schedule of Services: Payroll

New Feature: TaxCalc What If Planner for 2017/18 tax year is now available

This add-on calculates a future tax liability for the following tax year and enables the creation of tax planning scenarios.

  • What If Planner includes changes to the Scottish rate of tax.

Dividend Database

This add-on provides a database of dividends of FTSE350 and AIM listed companies updated for 2017/18 information.

TaxCalc 2018 update Version 6.4.034 Released on 1 May 2018

The following improvements have been included:

Accounts Production

  • New! A Posting Batch, pre-populated using an account code template, can now be created via Posting New Template Batch. The following templates are currently available:
    • Last Years Trial Balance.
    • Last Years Trail Balance (including Debit/Credit Values).
    • Favourite Account Codes.
  • It is now possible to prepare financial statements for LLPs under FRS 105 (the Financial Reporting Standard applicable to the micro-entities regime).
  • An option is now available to voluntarily include a Director's Report within accounts prepared under FRS 105.
  • The Accountant's Report has been updated to include default wording for the Institute of Financial Accountants (IFA).
  • Further improvements have been made to Notes and Disclosures, that cover both disclosures required by law and those that may be required to give a true and fair view. These include:
    • The inclusion of additional account codes for "Profit/loss on revaluation of assets" to provide flexibility on where to include fair value adjustments.
      • Account codes 3570 & 3571 will show separately on the face of the Profit and Loss Account before Operating Profit.
      • Account codes 3580 & 3581 will show separately on the face of the Profit and Loss Account after Operating Profit.
      • Other codes have also been added to general income and expense headings (e.g. Cost of sales, Administrative expenses, Other operating income, etc).
    • The Taxation note now provides a list of additional movements for inclusion within the breakdown of tax charge section.
      • In addition, further account codes are now available for disclosure of components of Corporation Tax charge: Accounts codes 3820 to 3822 (Profit and Loss Account).
    • An option to show reduced disclosures for Debtors and Creditors.
    • Improvements have been made to the Provisions and Deferred Tax notes to provide an extension to disclosure that has the inclusion of additional codes for a further breakdown of components:
      • Account codes 3830 to 3832 (Taxation, Profit and Loss Account).
      • Account codes 6101 to 6104 (Provisions, Balance Sheet).
    • New account codes have been provided for separate inclusion of a Fair Value Reserve (Limited Companies only).
      • Account codes 7600 to 7630.
    • A Reserves note including Revaluation and Fair Value Reserves can now be produced (where a Statement of Changes in Equity is not to be included).
    • A simplified Share Capital note showing total allotted, called up and paid/not paid.
    • The Transactions with Directors note has been updated, including being renamed to 'Directors' advances, credits and guarantees'.
    • Small improvements have also been made to the Related Party Transactions note.
    • An extra two Additional Accounting Policy notes are now available.
    • A new Additional Note to the Accounts has been added for inclusion at the end of the Profit and Loss Account notes.

New! GDPR Consent Management

Manage all marketing consent from within Client Hub. The fields that can be entered into TaxCalc Client Hub for each Client/Contact are under the Engagement screen.

In this release we have provided the ability to track consent for communications channels:

  • Phone
  • Email
  • SMS
  • Mail

You will be able to track the date of consent, who consented, who in the practice obtained the consent from the client, the method of how the consent was received (e.g. verbally, by email, by post) and a note for any additional information.

All of the information will be audit logged so every change can be seen over time. There are permissions to allow deletion of the records of each consent for removal of errors and amendments.

Consent Management Reporting

We have provided a default report that provides results on all clients and contacts that have given consent to receive email marketing communications from your practice. Consent Reporting will display the latest consent status for each type of consent.

Consent Management Administration

Consent management can be customised in Administration to create the best fit for your practice. The fields that can be customised are:

  • Consent type (the way you will be contacting your clients and contacts).
  • The method of consent (how the client/contact agreed to communications).

Bulk Consent

TaxCalc enables you to Bulk Consent your clients and contacts, for any practice that has already begun collating the relevant consent in preparation for GDPR's enforcement on 25 May 2018.

Tax Return Production

  • New! MTD Integration wizard. Update of Business information from the 2018 tax return to Client Hub.
  • Incorporation of additional HMRC Exclusions.
  • Resolutions to a number of software faults arising from the initial release of TaxCalc 2018.

MTD Integration Wizard

  • Create and update the business record in Client Hub with the following business information direct from the Tax Return in preparation for MTD:
    • Business name.
    • Latest year end.
    • Turnover.

Software resolutions

  • Correction to the Adjusted Income calculation within the Pension Allowance wizard.
  • Profits were not apportioned correctly for the first period in a long period of account when importing from Accounts Production to the CT600 Tax Return; this has now been fixed.
  • Self employment pages: Class 4 NIC Exemption box is now automatically completed when reaching 65.
  • Fixed error where TaxCalc stopped working when attempting to select a Participator using the search function.
  • Loans to Participators: Mismatch between Accounts Production and Tax Return Production error message in Check & Finish reclassified to be an information message.
  • Corrected the error encountered when attempting to access the HMRC website using links within the software to Helpsheets and Guides.

TaxCalc 2018 update Version 6.3.041 Released on 21 Mar 2018

TaxCalc 2018

Summary

  • Incorporation of 2017/18 SA100, SA800 and SA900 Tax Returns.
  • 2017/18 updated R40 repayment claim form.
  • Fully updated Summaries including the header in line with header styles in Accounts Production and Corporation Tax.
  • Improved integration between Corporation Tax and Accounts Production.
  • Updated Help for 2017/18.
  • Other enhancements and improvements as detailed below.

Self Employment - Basis period wizard

  • New for 2017/18! Calculation of the basis period and overlap profits based upon accounting period information entered.
  • Add historical accounting period information for 2014/15 onwards and view in a single location.
  • Calculate the basis periods for opening years together with overlap periods and associate profit.
  • Correct evaluation of overlap relief where accounting date changed and cessation of the business.
  • Import accounting period information from previous tax years from 2014/15 onwards.
  • Completion of the SA103F Self Employment pages without the need for manual entry.

SA105 Land & Property

  • Incorporation of the restriction of finance costs in respect of UK residential property.
  • Updated Land & Property Summary including resolutions to issues raised.

SA106 Foreign

  • Total row added to Foreign dividend and interest screens.
  • New box displaying the relevant country rate of foreign tax relief based upon the Double Taxation Agreement.
  • Ability to override the prepopulated rate of foreign tax relief for a country.
  • Fully updated HMRC Foreign Tax Credit Relief Working Sheet for 2017/18.
  • Updated foreign land and property pages to accommodate the restriction in relief for finance costs for residential property.

HMRC Fetch API's

  • Fetching employment details has been improved to better match existing employment data with information from HMRC.
  • Improved handling of error messages issued by HMRC when fetching information.
  • Improved the handling of HMRC issues during the Authorisation and Identity Verification process.

Corporation Tax

  • New! Ability to create a journal for the corporation tax liability from within Corporation Tax and subsequently create a posting batch within Accounts Production.
  • New! Management Expenses wizard providing the option to provide detailed breakdowns of management expenses arising in a period of account.
  • Trading ceased date added to import from Accounts Production and calculation of the apportioned profits to the trading period.
  • New validation incorporated into Check & Finish: Loans to Participators – no entry created in CT600A relating to additions in the Director's Loan accounts in Accounts Production.

Client Questionnaire

  • Data from any other income area now incorporated into the questionnaire.
  • Employment income and tax deducted now incorporated into the questionnaire.
  • Improvements to include details of income where wizards not used:
    • Untaxed UK interest.
    • Interest from gilt-edged securities.
    • Pensions received.

WhatIf? Planner - 2018/19 is currently unavailable and will be updated in later release

Online Accounting Software Integration (Xero)

  • Import a year-end trial balance directly from Xero (Posting > Import Trial Balance > Third Party API > Xero).
    • Uses familiar import trial balance wizard.
    • Requires secure authentication.
    • A warning is provided on import where a Lock Date has not been entered within Xero.
    • Warnings are provided where an opening balances batch or a previous import already exists at the time of import (to prevent double counting).
    • Create a Xero import map.
    • All Xero import maps are created on a per-client basis allowing full customisation.
    • Import map can be started using:
      • default mappings based on the default Xero chart of accounts
      • an existing (CSV) import map
      • another client's import map.
    • Update mappings quickly and easily when required via the import wizard.
    • One-to-one mappings are stored and retained for future imports/years.
    • Import completes in to a separate batch, which can then be edited/updated if required once complete. (Note: Any adjustments are not posted back to Xero).

Accounts Production - Version 6.2.011 - Released on 13 February 2018

For both Limited Companies and LLPs (where appropriate)

Notes and Disclosures

  • Default text for notes has been updated under Administration to provide defaults for FRS 102 1A and FRS 105
  • Options are now available under Edit Notes to include/exclude the Company Information and Statement of Changes in Equity within the Registrar Financial Statements
  • The default for some notes to be included/excluded have been updated
  • Edit Notes now includes two filter options; one to show only notes that are Required by Law or Encouraged by FRS; and another to show all notes that are On or Off.
  • A separate note is now included under both FRS 102 1A and FRS 105 for Off-balance Sheet Arrangements.
  • It is now possible to enter a Director/Member to sign the report(s) without entering a date.
  • The Average Number of Employees note now allows additional categories to be created.
  • Improvements have been made to the Tax on Profit note including the addition of items for the breakdown of tax charge for Prior period adjustment and Difference in tax rates.
  • The Transactions with and Loans to Directors note has been amended to suppress column headings where no names have been selected. This will allow the note to be used as just free text.

Statement Preferences

  • It is now possible to generate an Abridged Profit and Loss Account (Income Statement) and/or an Abridged Balance Sheet in conjunction with the requirements of the Small Companies/LLPs regime.
  • It is now possible to generate a Statement of income and Retained Earnings (instead of a separate Profit and Loss Account (Income Statement) and Statement of Changes in Equity)
  • An option is now available to present the Profit and Loss Account (Income Statement) and Statement of Comprehensive Income as a single Statement

Auditors' and Accountants' Report

  • The Report of the Auditors has been updated 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).
  • An Audit Information note is now included within Audited Registrar Financial Statements that covers the requirements of the CA s444(5B)
  • The Accountants' Report for ICAEW has been updated in accordance with AAF 07/16 and AAF 08/16

General Improvements

  • A new option 'Attach to Tax Return' is now available within the Full Financial Statements
  • A new option 'Send to Companies House' is now available within the Registrar Financial Statements
  • When creating a new period options are now available to 'Bring Forward Opening Balances/Notes'.

Corporation Tax

  • Software fault resolutions
    • Corrected an erroneous Check and finish error message relating to deductions allowance which appeared incorrectly.
    • CT600C Group Relief online filing error corrected.
    • Resolved the missing entry in box 780 of CT600
    • Corrected the rolling forward of losses from a period ended prior to 1/4/2017 into a new period starting on or after 1/4/2017.

Article ID: 3047
Last updated: 08 Jun, 2020
Revision: 3
Views: 70
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