Frequently Asked Questions

Accounts Production

Frequently Asked Questions for Accounts Production

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Can I early adopt FRS101 & 102 for Limited Companies, LLP’s & Charities?

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From version 11.7, IRIS will support early adoption of FRS101 and FRS102 for periods beginning before 1 January 2015 for Limited Companies and Limited Liability Partnerships. However, It will not be possible to early adopt FRS102 for Charities because the regulations have not yet been released by the charities commission.  Please refer to KBA IAS-11859 for further information. 

How do I post a Prior Year Adjustment?

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An example on how to post a prior year adjustment can be found in KB IAS-12019

What enhancements have been made to the Interactive report in v11.7?

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You can now  preview the printout on screen, generate the output file as either a PDF or Microsoft Word document, in addition to this we now automatically post the closing balance of any posting adjustments to the suspense account. Please refer to  KB IAS-11836 for further information

There has been a significant change from the existing UK GAAP to the disclosure of commitments under operating leases

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Previously under UK GAAP, the requirement was to disclose annual commitments analysed between those leases expiring within one year, between two and five years and after more than five years. To enter this information within IRIS Accounts Production please select,

Edit / Data Screens / Notes to Financial Statements / Balance Sheet Items / Hire Purchase Contracts and Leases/ Operating Lease Commitments. Please refer to KB IAS-11794 for further information.

How to clear tag errors within iXBRL accounts?

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Users can either clear the mapping or change the concept label to resolve this. for more information please click on the following link  IXBRL Validation Errors

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