Creating a new set of accounts
To create a new set of accounts:
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Select the client from the CLIENTS list.
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Open the client and select the Accounts tab.
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Select +New set of accounts.
A new set of accounts can also be created from ACCOUNTS on the Taxfiler by IRIS menu:
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Select + New Accounts. A new window displays.
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Select the client, by clicking on the field displayed in blue.
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From the drop-down list, select the type of accounts that you require; Small company (FRS 102 Section 1A) or Micro-entity company (FRS 105).
If you are using the Practice Management module, you will be able to enter the partner, manager and staff responsible for this client.
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For Sole traders and Partnerships, enter the name of the business.
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For Partnerships, select the type of partnership accounts from the drop-down list.
If you have a previous set of accounts for a client, the start period will auto populate to the start period for the next period. If not you can manually enter the start period. The End of period will auto populate based on the start period entered, this can be overwritten.
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Enter the dates to use for the comparative period in the accounts. Leave these fields blank if there is no comparative period. That is, if this is the first period of accounts.
Rolling forward existing accounts data
If a set of accounts already exists for the previous (comparative) period, when you select Create the new set of accounts for the next period will be created. The accounts data will be rolled forward to populate the new set of accounts.
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Standing company data and information on current directors is copied to the new set of accounts
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Current year values are copied to the comparatives column
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Applicable notes and policies are copied forward