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

Article ID
ias-12254
Article Name
Simplified creation of transition/duplicate comparative posting entry FRS102,101
Created Date
31st March 2016
Product
IRIS Accounts Production
Problem
Simplified creation of transition/duplicate comparative posting entries for FRS 102, FRS 101 or IFRS comparatives. How do I create the duplicate FRS 101 or 102 comparatives?
Resolution
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.

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