Desktop Final Accounts

Why the need for Comprehensive Accounts?

From April 2011, all Corporation Tax Returns (CT600) must be e-filed with HMRC and HMRC will no longer accept copies of the Supporting Accounts either on paper or attached as a simple PDF.

These Accounts must be e-filed in iXBRL format.

Comprehensive Accounts will produce Accounts in Companies Act 2006 format, complying with the latest FRSSE for printing for clients and will also output an iXBRL file for lodging with HMRC in support of the Corporation Tax Return.

Does Comprehensive Accounts produce Tax Computations?

Comprehensive Accounts produces statutory accounts in printed form and in iXBRL format.

The latter can be attached to an online Tax Computation submission.

Comprehensive Accounts doesn’t produce the Tax Computation.

You can use the HMRC online submission portal or purchase a Tax Computation software package.

Is Comprehensive Accounts a bookkeeping package?

No, Comprehensive Accounts is not a bookkeeping package.

Comprehensive Accounts is an Accounts Production Package.

The final accounts data is entered to the program to be output either as printed documents or PDFs and ultimately as an iXBRL file in a format acceptable to Companies House and HMRC whilst also complying with generally accepted accounting practices and the FRSSE.

Will I be able to send my client companies their Accounts in print or PDF?

Comprehensive Accounts generates an iXBRL file fully tagged for e-filing with the Corporation Tax return as well as the printed accounts.

You must use a PDF printer driver to produce a PDF file of your accounts, for example to email the accounts to your client for approval.

Depending on your operating system, you might already have a PDF printer driver installed on your PC. Check your “Devices and Printers” options or the printers available to you when you print a document.

If you don’t have a PDF printer driver already installed, many are available to download and install from the internet and some of them are free – e.g. http://www.pdf995.com.

Will Comprehensive Accounts produce Abbreviated Accounts for filing with Companies House?

The abbreviated accounts produced by Comprehensive can be filed with Companies House in hard-copy printed form.

As yet, unlike with Corporation Tax returns, there is no statutory requirement to file accounts online with Companies House – abbreviated or otherwise.

Indeed, the filing of abbreviated accounts with Companies House might be scrapped altogether in future.

You can submit the printed abbreviated accounts – i.e. send them to Companies House in the post – or use the government gateway free online submission portal.

We acknowledge that posting the printed accounts is hardly a forward step technologically, but this would likely entail less time and effort for you than to enter the data again using the Companies House PDF tool.

While the future of submission of accounts to Companies House at all for small companies is in doubt, we are loathe to develop an online submission tool which might soon become obsolete.

Can I import my Accounts data from Excel or Sage?

No.

Data entry is very simple and most importation of data takes longer to sort out the irregularities than to have entered the data directly.

However, data importation from excel is a possibility in the future.

Will I have to enter Comparative Figures for the Previous Year?

The first time a client is input into Comprehensive Accounts, the comparative figures will have to be entered.

For years 2 and onwards, as part of the New Year procedure, the “Current Year” will be automatically moved to the “Comparative Year”, so no further work will be required.

Will I have to enter recurring data such as the Company Name every year?

No.

Recurring information, such as Company Name and Number and Directors’ details, are entered only once on setup.

Such data is retained within the New Year procedure and only amendments need be entered year on year.

How easy is it to enter data?

The program will guide the user at every turn, requesting the input of information necessary to produce compliant accounts and prompting the user for text entries wherever necessary.

Is it possible to use Comprehensive Accounts to prepare ‘Draft’ Accounts prior to finalisation?

Yes.

“Draft Accounts” can be prepared as many times as are required without consequence.

The word “Draft” or a message of your own choice will be displayed on every page until you set the program to print “Final” accounts, when the “Draft” will disappear from the printed and PDF output.

If you ordered the up to 50 Accounts version, at this stage and only at this stage, will the produced Accounts count against your limited entitlement.

I have purchased the less than 50 Accounts per annum but need more. What is the cost?

Upgrading from 50 or fewer Accounts to unlimited is simple.

You only have to pay the difference.

You DO NOT have to pay the full unlimited fee.

The cost for the unlimited Accounts version will be payable on your annual renewal date.

Exactly how does the annual licence fee work?

When you subscribe to Comprehensive Accounts, your annual licence will commence from the first day of the month in which you bought the software.

Thus if you buy the software in July we will record that your licence expires on 30 June the following year.

A limited licence will be entitled to produce up to the limited number of accounts during the annual licence period. Any unused will not be carried forward to the next year.

Will I have to pay any extra for updates within my year?

No.

Your licence will entitle you to receive all updates issued during the year, irrespective of how many or how complex.

If I ordered the up to 50 Accounts version but only finalise 30 in the year of my licence will I be able to carry forward the unused 20 to next year?

No.

Each limited licence entitles you to produce 50 finalised Accounts during a one-year period.

If you produce less than 50 and your year ends, then on renewal you will start the new year with your new entitlement of 50.

If on renewal I choose not to renew my licence but later find that I need further prints of previously finalised Accounts will I be able to so do?

The software will recognise the expiry of your licence and the program will no longer work for you.

One month prior to expiry the program will prompt you to re-order AND you will also receive a letter or email as well.

What if I encounter problems?

We recommend that you review this knowledge base, as many questions will be answered here and you will also find practical examples and experiences from other users.

If you cannot find a satisfactory answer to your question, you may issue a support ticket. Please provide as much information as possible to help our support team to respond as soon as they can, including:

• Your full name and correct email address
• A sensible subject which will help our ticket management
• Your correct software release number and date, which can be found found from the menu, Help > About

Will I be able to “personalise” the Notes to the Accounts?

Yes, to some extent.

Many individual Notes to the Accounts require direct input from you the Accountant.

Comprehensive Accounts provides “Free Text Boxes” for these occurrences and you can compile your text as suits you and the circumstances.

Will I be able to add my LOGO to the Accounts?

No, but we will monitor requests and if possible will incorporate the facility in a future release.

What happens if the FRSSE is amended or Company Law changes?

We will make the necessary amendments and issue an update.

Will I be advised of any updates to the program?

When we issue a new release of the software, we will update the release history and download pages of our web site and advise all licensed users by email.

Thus, please ensure that we are updated as to any changes in your email address.

Ensure also that your “spam filter” does not block our emails to you.

As a final check, always refer to the web site to see the latest release and check against the release you have installed.

What if I have more questions?

If your questions are not addressed here or further clarification is needed, please open a support ticket on this knowledge base including as much information as you can.

I have requested an installation CD. When will I receive this?

This article was written on 25th March 2011.

We are developing the software continuously towards the iXBRL launch date in April 2011 as reporting requirements and our customers’ needs demand.

During this busy period, an installation CD will likely be superseded by the latest release of the software by the time it has been delivered in the post.

Because of this, we have taken the view to wait until a stable release before we issue CDs to those customers who have requested and paid for them.

We intend for this stable release to be issued in week commencing Monday 4th April 2011 and we will then send the CDs.

In the meantime, customers’ licence details will allow them access to the secure download page of our web site from which they can download and install the latest release at any time.

Going forward, release updates will be notified by email or from within the software menu and distributed only by secure download from our web site. This remains the only economically and logistically viable way to ensure we provide the best and most timely support to our customers.

How do I submit accounts to Companies House online?

As yet, there is no statutory requirement to file accounts – abbreviated or otherwise – online with Companies House.

Indeed, the filing of abbreviated accounts with Companies House might be scrapped altogether in future.

Therefore, Comprehensive does not create an iXBRL file for abbreviated accounts.

You can submit the printed accounts or a PDF file produced from Comprehensive or use the government gateway free online submission portal.

Why is there no telephone number listed on your website? Why can’t I phone you?

Comprehensive Accounts is designed and priced to provide a simple and cost-effective iXBRL solution for the small practising accountant.

To enable us to maintain our competitive prices and deliver a high standard of support, we must utilise all that the internet can offer in economies of scale and communication.

The alternative would be to train and retain dedicated telephone support staff, which would cost us – and therefore you – more money.

We hope you recognise this and invite you to email our sales team or visit our knowledge base to ask a question or raise a support ticket.

Can Comprehensive report a capital gain?

Comprehensive produces statutory accounts – so nothing to do with Corporation Tax.

Enter your TB details and other data required for statutory accounts – directors details and directors report etc. – and out pop the small company FRSSE accounts.

From time to time you may need to move our software to a different PC, e.g. when you buy a new one.

Click this link to read a knowledge base article that explains how to do this. The article will open in a new browser tab.

The process includes creating a backup of all your data, which you should be doing routinely anyway as part of your business continuity procedures.