Does All saving accounts (cash in the bank accounts) and any sort of investments be shown on the balance sheet?
Replies (13)
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Only the ones that you want to show.
You might want to keep some "off balance sheet" so HMRC don't find them.
Hope that helps.
A Limited Company
Are you an accountant? Your profile shows lots of "I have a friend ..." questions but also various "I have a client ..." questions.
I am on a bookkeeper
I'm not sure whether that makes your original question better or worse.
Let's say you have a balance sheet with a bank account included as an asset and you then remove that bank account. Does your balance sheet still balance?
I am on a bookkeeper
If you are not an accountant, you appear to have been acting beyond your capabilities. Were you insured and covered for MLR in undertaking the work in your questions here:
https://www.accountingweb.co.uk/any-answers/self-[***]-return
Remove the [***] the ridiculous site software adds.
https://www.accountingweb.co.uk/any-answers/income-self-employed
As AA says, if you don’t include all of a company’s assets in its accounts they won’t balance will they, unless you do something obviously wrong like treating a transfer from one account to another as an expense?
Does that answer your question?
If you're a book-keeper, then preparing balance sheets isn't part of your job.
But if you are in a job where you need to prepare balance sheets, then you should know the answer to this question already. This is not a question that needs a "highly qualified" person. This is basic accounting principles.
Also, you don't get to say who replies to your queries on a public forum. Just because they haven't given you the answer you were after doesn't mean those that responded didn't "want to reply".