FRS 105 compliant reports

[Michel]

Hi,

I am looking for accounting software that either offers outright FRS 105 support, or allows me to customise the layout of balance sheet an P&L statement beyond simple Asset, Liability, Capital for BL and Income and Expenses for P&L.

THanks!
Michel

[Glenn]

Hi Michael,

I’m afraid QuickFile doesn’t produce FRS 105 reports, this is more within the realm of “Accounts Production”. There are a number of systems on the market aimed at accountants that can be used to produce FRS compliant reports (certainly 102, not sure about 105?).

VT Software offer an affordable solution. You can also look at IRIS and CCH, although the licensing costs here are more orientated towards volume users.

Hope that helps!

[Michel]

Hi Glenn,

Thanks for your quick response. However, all it would need from the software would be a custom grouping and aggregation of individua accounts to get the totals correct. Most of the annual accounts are text and notes anyway, with the BL and P& only a few pages - for micro entities like mine who decide to report according to FRS 105 it would ever only be 2 pages and the details in the manually written notes anyway!

I have a draft aggregation for FRS 105 working in google sheets, which basically implements the secon level of indirection between, for instance, “Expenses” --> “Depreciation and written off assets” --> “Office equipment”. All I would need from Quickbooks is to allow me to customise in this case the P&L statement for alternative aggregation rules.

Cheers,
Michel

[Glenn]

I think it’s a compliance issue really, if we are seen to be preparing reports to FRS standards we’d need to be making sure we’re doing everything to the letter and inline with FRS rules and regulations. So it’s not something we would be able to partially support.

I’ve referred this to our in-house accountant, but I don’t believe it would be something we could readily take on right now. We do however allow both the P&L and BS to be exported to CSV format, potentially you could write some sort of parser or data adapter to take these exports and adapt them to FRS standards.

[Michel]

Thanks.

I think that’s what I am going to do, and make sure that my account names are unique for easy referencing and aggregation.

Cheers,
Michel

[AndyAtSohn]

The TB CSV output contains the account code numbers which, I expect, will always be unique and not change. I would probably put the CSV information into a database (even an Excel sheet would do) and have a table with mappings, aggregation and display order rules. Fairly simple SQL joining the tables and aggregating would produce a report in the desired order. Making it look pretty takes longer!