Error on Movement in Shareholders' Funds note
- Article ID
- ias-12177
- Article Name
- Error on Movement in Shareholders' Funds note
- Created Date
- 26th November 2015
- Product
- IRIS Accounts Production
- Problem
- I have an error message appearing on the Movement in Shareholders' Funds note:
- Resolution
- There are three things that need to be checked to try and resolve this;
- Has there been new Share Capital issued during the year?
Select: Reports | Multiple Year Trial Balance Check if there are postings to a/c 911-913 (966/1-3 on ELTD) If there is a movement in shares during the year Select: Edit | Data screens | Notes to Financial Statements | Movement in Shareholders’ Funds- On the ELTD chart the difference may be down to rounding:
Select: Reports | Annual Run report LTD and check the retained profit shown on the Balance Sheet for the comparative year and the Opening Profit shown on the Reserves note. If there is a difference adjust: Profit brought forward account 968/1 by the difference and post the double entry to any other profit and loss account such as sundry expenses account 280. Alternatively, you can change your rounding account codes by selecting Posting | Rounding Accounts If there is still an error relating to the current year and/or last year that cannot be cleared by posting an adjustment to 968/1 and 280, check other reserves e.g. 971/1 does it go up or down by a £1 in the current, last or year before last. It may be a mistake that needs to be adjusted, with the other side going to another balance sheet item, for example bank 692.
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