Simplified creation of transition/duplicate comparative posting entry FRS102,101

When selecting FRS 101,FRS 102 or IFRS as your accounting standard when you add a new posting entry, Accounts Production now automatically creates the duplicate posting entry for the comparative year and copies in the trial balance from your existing UK GAAP (or previous accounting standard) posting entry making the restating of the comparatives an even more efficient process. In order to create the comparative post file you will be required to select a document type for the imported trial balance. You may wish to create a new document type to clearly categories these imported entries. To create a new document type, select Setup | Document types | New Once you have an appropriate document type created simply select Posting | New to add your new comparative posting entry. This method should prove to be a seamless process when transitioning to a different accounting standard. A step by step guide on ‘How to create a set of FRS 102 Accounts’ is available in the IRIS Help Centre.