I don’t know if anyone can help. I am revaluing listed stocks and shares held in our ltd company and need to know how to account for a revaluation loss. My understanding is that the loss has to show in P&L, without affecting the tax charge on the normal profits before this loss shows. I need to know how to account for this in quickfile. I presume there will be 2 nominal transactions-One to income showing the loss/against listed investments. It’s how I do the nominal so that it shows up in the revaluation reserve on the balance sheet I cant get my head around
What is your reporting framework for accounts?
FRS 102 if that’s what your asking?
QB is not fully equipped for all sort of FRS 102 items, e.g no option to show deferred tax, it always get clubbed with CT in P&L, best just create a new nominal for all kind of fair value adjustments and deal with them at statuary accounts software level
This topic was automatically closed 14 days after the last reply. New replies are no longer allowed.