I have taken on a residential letting agent where the previous accountant included a number of company bank accounts from the balance sheet, eg. client current account - which collects tenant deposits, pays landlords and from which the agent's commission is transferred, and a tenants account which collects the deposits at the beginning of the lease and pays out to the tenant at the end of it. These assets are counter-balanced by creditors, so the net assets are unaffected.
Typically, I have thought that these accounts would not be included, but I have a note that says the interest earned on the accounts is retained by my client. Maybe this is a determining factor?
Does the panel think the bank accounts should be included, should be excluded or does it not really matter either way?