Just submitting abbreviated accounts and it has a section for accruals and deferred payment. I have one accrual which we discussed a couple of weeks ago, but if I look on the VT Accounts abbreviated accounts section it doesn't show up. Double checked VT+ and its showing as an accrual so I'ma bit confused as to why the VT accounts isn't showing it, and whether I need to list it on the balance sheet at Co. house
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
add together your "accruals" and "other creditors" figures in VT Transaction+.
Now go to VT accounts.
In the full accounts look at the note number on the balance sheet against the "creditors: amounts falling due within one year".
Go to the notes and look at the breakdown of the field. The other creditors figure includes the accruals.
That note breaking things down isn't in the abreviated accounts (non of the readers busness, same as the P&L is non of their busiess).
Hope that sorts your problem.
Any issue just repost and I'll walk you through it.
kindest regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Thanks Shaun, I found it before you'd posted. I must be psychic lol because that's pretty much how I got there, although I saw the breakdown in the notes first then went back to VT+
Thanks Michelle for pointing me to look at that (gosh I'm thick)
That note breaking things down isn't in the abreviated accounts (non of the readers busness, same as the P&L is non of their business).
Should I ignore the accruals bit at co house then? I'd put the figure of 1700 (ish) in the creditors falling due within one year and that matches VT accounts word for word or am I best off putting the accrual seperately?
-- Edited by Leger on Friday 9th of October 2015 04:39:06 PM
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
I don't think that it matters as they are the right figures in the right place just missing the bit where they are broken down. Personally I would stick with the figures you file matching the way that way that they are stored in VT (at the end of the day an accrual is a creditor of less than a year so seperating them in the abreviated (which is a pretty useless document anyway) is a bit of a no never mind).
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
