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SOCIE Share Capital has been Issued rather than brought forward in the 2nd

Article ID
ias-12739
Article Name
SOCIE Share Capital has been Issued rather than brought forward in the 2nd
Created Date
23rd March 2018
Product
Problem
The Statement of Changes in Equity is showing Share Capital as issued, accounts have been prepared in accordance to FRS 102 and there is no UKGAAP year. The Reconciliation of Equity is filled out in the first year of FRS.
Resolution
To resolve this error can you please create a dummy post file for your pre comparative year: 1. Posting | New | Accounting standard – UK GAAP | Specify posting batch – 11 Journals | 2. Post the Share Capital figure in the UK GAAP post file. 3. Go to Client | View | Remove AP date | OK | Save. 4. Re-enter AP date – Start date of FRS. This will prompt you with a message to create a restatement for transition to FRS post file – Comparatives are successfully created. 5. Edit | DS | Small Companies | FRSSE | untick box. 6. Run report |

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