Prior Year Adjustments

Accounting
1

I just realized that I made some mistakes on my year-end accounts which are already filed to HMRC and Companies House.

We declared a loss for that financial year and after fixing the mistakes in our accounts we still are in loss, so there is still no corporation tax to pay. However, the final balance of the company is different.

How should I correct this? Is there a module from HMRC that I should complete or I can fix it in next year-end accounts (with the help of a journal in QuickFile)?

Thanks a lot!

2

Hi @gamnlifestyle

I think initially, you’re probably best off contacting your accountant for advice on this, as they can advise in more detail on your exact situation.

If they can advise on what needs to be done to your accounts (e.g. a journal), then we should be able to help you achieve that on QuickFile.

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