Comparative year figures
I currently use VT Final Accounts to prepare sole trader and small company accounts and I am encountering an issue with the comparative year figures due to rounding.
The problem arises with b/fwd balances such as fixed asset depreciation and fixed asset costs. Due to rounding, sometimes the current year b/fwd figures don’t match the previous year closing balances eg Depreciation at start of current year does not match the total of depreciation b/fwd at the start of previous year ‘PLUS’ depreciation charge in previous year. There may be a difference of £1.
The help text in VT Final Accounts describes manually adjusting the previous year comparatives. Is it acceptable to have some comparative figures which may differ slightly by £1 (even though the overall balance remains the same) compared to the original accounts from the previous year? I am thinking particularly for company accounts.
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- No PAYE Registration but need auto enrolment 410 10
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- Marriage Allowance 200 3
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- S455 and February year ends 262 7
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- HMRC having technical difficulties 824 18
- Closing down loss-making company 423 5
- S.455 Tax again 272 3
- New Build 328 2
- Taxation of sinking fund contributions 371 4
- Mortgage Reference 779 10
- RTI offline? 185 1
- Right To Manage Company 276 4
- Day allowance working in Qatar 169 1
- Giving shares away 335 6
- Entrepreneurs relief after enhancement 634 5