Creating a new set of accounts

To create a new set of accounts, select the client from the CLIENTS list. Open the client and navigate to the Accounts tab. Click on +New set of accounts button.

A new set of accounts can also be created from ACCOUNTS on the Taxfiler menu, click on + New Accounts button a new window opens, select the client, by clicking on the field displayed in blue, and the create accounts window opens as shown below

For a company the following window opens:

  • ‘Type of accounts’ Select from the drop down the type of accounts that you require, either 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.

For a sole traders the following window opens:

  • Name of business’ is required for the sole trader

For a partnership the following window opens:

  • Type of accounts‘ select from the drop down list the type of partnership accounts that you require, either LLP, LLP (Old UK GAAP), or partnership.
  • Name of business‘ is required for the partnership

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

Comparative period

Enter the dates to use for the comparative period in the accounts. Leave these fields blank if there is no comparative period (i.e. if this is the first period of account).

Rolling forward existing accounts data

If a set of accounts already exists for the previous (comparative) period, when you click 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.

  • Standing company data and information on current directors is copied to the new set of accounts.
  • Current year values are copied to the comparatives column.
  • Applicable notes and policies are copied forward.

Using income losses against capital gains

Firstly, please ensure that you are making the best use of the losses before proceeding. Select the Capital gains tab from the data input screen Click on the Disposals tab, and enter the relevant information Click on the Capital Losses tab, and enter the amount of loss that you wish to set off against the […]

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Restricting access to clients

This feature is only available for multiuser accounts, it has been designed so that you can restrict user access for certain clients if required. Users with “edit client access” rights AND who have access to a client can assign or remove access rights via the Access tab on the client screen. The default is that […]

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User restrictions within Taxfiler

This function is only available for a multiuser license. Some functions within Taxfiler can be restricted from a user. From the SETTINGS icon select Users and select the user that you wish to edit Select Restrictions tab You will be presented with several functions which can be selected or removed via a tick box. For […]

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