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
Product
IRIS Accounts Production
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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