Changing the accounting standard from FRS102 to FRS105.
Article ID
changing-the-accounting-standard-from-frs102-to-frs105
Article Name
Changing the accounting standard from FRS102 to FRS105.
Created Date
8th July 2022
Problem
Changing the accounting standard from FRS102 to FRS105.
Resolution
1. Client | View | A/P Dates – insert the start date of the restate accounting period against the correct accounting standard and delete the other date.
2. A prompt to create a duplicate posting entry and import the postings to restate the comparatives will come up – click Yes
3. Choose a description for the new posting entry and make sure the correct accounting standard is chosen – click OK
5. Choose document type 11-Journals and click Select This will be followed by a confirmation that the comparatives have been successfully created – click OK.
6. Go to Posting | Post File Maintenance | Entries to verify that there are two post files for the prior year each under a different accounting standard.
7. Run the report as normal and you should now see the comparative with the previous year.
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