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Post Info TOPIC: Limited company F/Statements- Notes


Senior Member

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Limited company F/Statements- Notes


Hi,

Does anyone have a standard set of notes that they use for limited co financial statements that they would like to share?

Or how do you approach the notes to a set of financial statements for a small Limited Co?

 

I'm trying to do a bit of learning :)

Thanks

stuart



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Forum Moderator & Expert

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but they're potentially different for every client stuart.

If you are offering properly formatted stats have you thought of using VT Final accounts?

I use it with VT Transaction+ so good flow from initial data entry to filed accounts but I know you can import the trial balances from other software such as Sage. (Don't ask me how to do that as not done it myself).

For an unlimited number of companies its £199 +VAT for the first year then £150 +VAT for renewals.

Also produces very professional looking accounts for the self employed as well.

For a two month free trial just pop to the VT site and download it. At the very least you'll see exactly how the notes should look.

kind 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.



Senior Member

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Posts: 360
Date:

Does vt actually produce the financial statements and the notes? Will definitely download the free trial Thank u

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Hi Stuart,

VT comes in two different flavours.

There is VT Transaction+ which is what most of the people here talk about and VT Final Accounts which is what many of the people over on Aweb talk about.

VT Final accounts comes with VT Transaction+ bundled in with the price of VT Final Accounts so there is no need to buy it seperately.

VT Transaction+ comes with a basic balance sheet and P&L which is generally sufficient if all of your clients are self employed. There is no facility to produce the notes from VT Transaction+.

The iXBRL encoding facility is also only with VT final accounts.

People like Mark (Marks) use VT Accounts without VT transaction+ (Actually, he has now moved to a similar product from Taxcalc so that his accounts and tax production both come from the same source).

I use VT Transaction+ and push the data through to VT Accounts.

The final result is a very professional looking set of accounts including all of the required notes. Accountants inserts, etc.

The software has paid for itself as I have won clients on the basis of seeing the sort of accounts that I produce for them compared to the sort that their incumbants have been producing for them.

An extreme example of that was a recent one where the previous bookkeeper had basically only prepared a one page income and expenditure statement for them.

With a proper set of accounts the client I feel, feels that they are getting more value for their money regardlss as to whether what is actually happening in the background between a properly formatted set of accounts and a print of a balance sheet and P&L is basically exactly the same.

Not quite a case of never mind the quality feel the width but not far off. lol.

kind regards,

Shaun.

__________________

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.



Senior Member

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Posts: 360
Date:

Thanks Shaun, your so helpful :)

Downloading trial as we speak :)

Thanks

Stuart

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