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This client screen is used for Limited Companies.
It can be found in:
Edit | Data Screens | Notes to Financial Statements | Balance Sheet Items | Intangible Fixed Assets | Revaluation | Analysis of "Cost or Valuation"
The figures entered on this screen are used in the standard revaluation note.
The figures must be entered for all groups that have postings, not just the group which includes the revalued asset.
This screen determines how the value at the year end is comprised.
Checks will be performed by IRISPTP to ensure that the total shown here agrees to the total for that account in the trial balance.
| Year of Revaluation | Accounts 502, 503, 504, 505 £ | |
| Valuation
in
|
Enter the year of revaluation.
Facility is made for up to 10 valuations.
|
Enter the amount by which intangible
fixed assets were revalued in the year. Enter a + sign if the intangible fixed assets have increased in value (or leave the field blank). Enter a - sign if the intangible fixed assets have decreased in value.
|
| Cost | The historical cost of the intangible fixed assets. | |
| Total at end of year | The total of the column above is calculated by IRISPTP and displayed in the grey box. |
The table below shows the relationship between accounts 502, 503, 504 505, asset descriptions and the account numbers used to calculate the balance at the year end in the Notes to the Financial Statement.
| Account | Asset description | Sub account | Debit or Credit Expected |
| 502 | Goodwill | ||
| 503 | Patents and licences | ||
| 504 | Development | ||
| 505 | Computer software | ||
| Sub accounts used for the accounts listed above | |||
| Cost/Valuation b/f | 1 | Debit | |
Additions |
2 | Debit | |
Disposals |
3 | Credit | |
| Grants | 4 | Credit | |
Revaluations |
5 | Debit | |
| Impairments | 6 | Credit | |
Reversal of impairments |
7 | Debit | |
| Exchange differences | 8 | Either | |
Reclassification/transfer |
10 | Either |
Where the figure for the Total at year end in the Analysis of "Cost or Valuation" screen does not match the postings made to accounts 502, 503, 504 505 (as above) the following error message appears:
** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
GOODWILL
'COST' ACCOUNT TOTAL
Posting made to account 502, 503, 504 505/1-8 & /10 as detailed above are listed XXX
____________
XXX
CLIENT SCREEN TOTAL = XXX
Use this option to view or print any report without leaving this screen.
IRIS will return to the Revaluation analysis - Intangible Assets screen when you exit the report option.
To view the notes only enter NOT in the Report/Document field.
This screen will be displayed automatically during the auto-pilot routine.