How does the new VT Filer handle audited abbreviated accounts

How does the new VT Filer handle audited...

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I see that VT Final Accounts creates the appropriate files for audited abbreviated small company accounts including a VFI for submission using VTFiler. But what happens when VTFiler is used to efile such accounts? Has anyone tried?

Does the software warn the user that the accounts cannot be filed electronically or does it submit them and await for a rejection response from CH. Such accounts can be filed on paper, but apparently cannot be filed eletronically at present. 

Replies (15)

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By vtsoftware
22nd Apr 2013 08:06

Abbreviated accounts of audited companies

Howard

I think you should have mentioned you are a competing vendor. This would help members understand the motive behind your question (and the two similar ones on the VT Software discussion group).

You are, of course, correct. You cannot e-file the abbreviated accounts of audited companies. I suspect this was originally an oversight by Companies House as they test for the presence of an audit by looking for the tag for the information provided to auditors statement in the directors report [corrected 22/4/2013]. Hence Companies House do not detect the presence of the special auditors report (because there is no directors report) and then expect clauses on the balance sheet that only unaudited accounts have. As a result of this the abbreviated accounts of audited companies are not accepted and the message you get from Companies House is hard to fathom without a lot of lateral thinking. I harangued Companies House about a year ago on this matter. I suggested that they should detect if the accounts are audited by looking for a tag that was on both the auditors report and the special auditors report.

In March this year I checked again with Companies House. They still do not plan to accept the abbreviated accounts of audited companies on the grounds that the audit and small company size limits have now been aligned. However, this still leaves cases where the company has elected to have an audit.

I am talking to Companies House on another matter on Tuesday and will also raise this matter again.

In the meantime, there ought to be a warning message in VT if you attempt to file the abbreviated accounts of audited companies. This was an oversight on our part. We will put the test into the next edition. Fortunately, the circumstance is somewhat rare.

Philip Hodgson
VT Software

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Me!
By nigelburge
21st Apr 2013 12:35

As always, Philip has come up with the goods.

THAT is why VT is so good.

BTW What is Howard Myers' competing software? It would be interesting to know.

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Replying to Tax Dragon:
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By vtsoftware
21st Apr 2013 16:14

Competing software

nigelburge wrote:

BTW What is Howard Myers' competing software? It would be interesting to know.

Click on hmyers at the top of the question and follow the comments for it.

Philip Hodgson
VT Software

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Replying to MDK45:
Me!
By nigelburge
21st Apr 2013 16:50

"Have a look at First Choice Final Accounts"

vtsoftware wrote:

nigelburge wrote:

BTW What is Howard Myers' competing software? It would be interesting to know.

Click on hmyers at the top of the question and follow the comments for it.

Philip Hodgson
VT Software

Thanks Philip - I have and I think I will stay with VT. 

As you say, It is a pity that Howard Myers did not disclose his interest at the start. That kind of thing REALLY puts me right off.

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Man of Kent
By Kent accountant
21st Apr 2013 17:15

Well done Howard

Shot yourself in the foot with this one...

 

...BIG time ;o)

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By chatman
21st Apr 2013 20:07

Doesn't look good.

Yes, I must admit the question would have been fine had the interest been declared. Omitting it looks bad.

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By vtsoftware
22nd Apr 2013 08:03

Correction

I've made a correction to the logic in my first post. I was working from memory on Sunday morning.

Philip Hodgson
VT Software

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By MissAccounting
22nd Apr 2013 09:18

Ouch!

Way to go Howard!  Not only have you made yourself look like a right fool but you have just alienated the majority of people on here from ever looking at your software.

Keep up the good marketing!

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By mrme89
22nd Apr 2013 11:52

He aims, he fires. Woops, he’s shot himself in the foot! 

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By Tonykelly
23rd Apr 2013 10:10

in defence of Howard

I don't think Howard is trying to pull the wool over anyone's eyes.

Most of the regular contributors on this forum know that Howard is a software developer.

eg Phillip Hodgson of VT knows this and I know this this even though I may only use the site 3 or 4 times a month.

Also there are no links in Howards posting where he is trying to promote his software.

Given the slightest opportunity there are always people who try and put others down, so Howard ignore these fools and keep up the good work. Britain needs good software developers like yourself.

 

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Replying to Briar:
Me!
By nigelburge
23rd Apr 2013 11:00

I certainly didn't

Tonykelly wrote:

Most of the regular contributors on this forum know that Howard is a software developer.

and I pretty much know my way around AW. I have never heard of him before - or his software.  But I have now.

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Replying to Briar:
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By andy.partridge
23rd Apr 2013 12:30

Tut tut

Tonykelly wrote:

Also there are no links in Howards posting where he is trying to promote his software.

  And that is the very reason why most members wouldn't know he was a software developer. A simple criticism that is not a hanging offence but if Howard wishes to retain credibility there is a simple remedy. Disclose your vested interest.
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Replying to Briar:
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By MissAccounting
23rd Apr 2013 11:39

Fool

Tonykelly wrote:

I don't think Howard is trying to pull the wool over anyone's eyes.

Most of the regular contributors on this forum know that Howard is a software developer.

eg Phillip Hodgson of VT knows this and I know this this even though I may only use the site 3 or 4 times a month.

Also there are no links in Howards posting where he is trying to promote his software.

Given the slightest opportunity there are always people who try and put others down, so Howard ignore these fools and keep up the good work. Britain needs good software developers like yourself.

 

 

I wont lower myself to your level and the petty name calling, how old are you by the way? 10?

The opening post by Howard was a blatant opportunity to try and put VT down - "look at my software, its better than yours"

I am on here quite a bit and I had no idea Howard was a developer.

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Replying to Accountant A:
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By jeffglover58
23rd Apr 2013 20:29

Can't see it myself

MissAccounting wrote:

The opening post by Howard was a blatant opportunity to try and put VT down - "look at my software, its better than yours"

Can't see any attempt by Howard to try and put VT down or any attempt to promote his own software.

However, in the posts that follow I can see needless disrespectful comments and put downs which appear quite unnecessary in the context of the original post.

 

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By hmyers
25th Aug 2013 15:17

A final word...............

Although it is not my style to criticize other members' postings, several Accounting Web members have urged me to correct some of the false statements and comments in this thread.

Philip states that I should have mentioned I was a competing vendor and help members understand the motive behind my question.  Why? Was there something in the question criticizing VT software or claiming that our software was better? I suggest you read it again.

This was a genuine enquiry which I expected to lead to a grown-up professional discussion about filing audited abbreviated accounts with Companies House and how VT dealt with it.

Instead, we get a silly, childish stream of irrelevant nonsense.

My background as a software developer had and has no relevance. But my 40+ years as an accountant in practice and a VT user does.

Rather than casting aspersions on my motives, perhaps Philip and his disciples should have thanked me for raising this issue which apparently has brought about an improvement in the way VT handles and reports such accounts.

Many thanks to Tony Kelly and Jeff Glover for their comments and for recognizing an injustice when they see it.

Howard Myers
HMSoftware
Publishers of First Choice Final Accounts

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