Hi there,
I added a new nominal code to Long Term Debts (2331) and added a few transactions to it. Now when I run the balance sheet report the new account is grouped and summed with Current Liabilities.
It’s not strictly a bug, as the balance sheet in QuickFile was never originally designed to split out current vs long term liabilities. That said it would be possible for us to introduce this differentiation as I see we already have some reserved code range for long term liabilities.
In the mean time you can export your balance sheet to Excel and add a header for any of your long term liabilities. For now I will update this post to a feature request.
Ok, maybe it’s better defined as a design flaw then! UK GAAP and IFRS require long term debts to be split out, so the Quickfile balance sheet is just incorrect as it stands. Might be worth tweaking.
It shouldn’t be a difficult change to implement, all the pre-requisites are already in place. I have logged this in our short-term planner for further consideration.
A say “short-term”, we are currently working on a significant release so it will likely be later next week or early May. I will update this thread with any progress.
Definitely needed. Would be a good addition and make the balance sheet more inline with standards.
Just a quick update to let you know that we’re in the final testing phase with this feature. From early next week you should be seeing your long term liabilities (all balances on codes 2300-2399) under a separate sub-heading in the balance sheet.
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We are now differentiating “Long Term Liabilities” from “Current Liabilities” on the balance sheet. Any balances (exc. Corp Tax - 2320) between 2300 to 2399 will automatically appear under the Long Term Liabilities header.
I will leave this thread open for a few weeks to gather any further feedback on this update.
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