Overview                                                  
What you need to know
System requirements 
Upgrades
Version history

Getting started
Introduction
Setting up a new client
Creating your first accounts - step by step        
Final accounts production checklist
Console toolbar

Using First Choice Final Accounts    
Chart of accounts
Accounts description file
Special account codes
Posting file data entry
Transferring opening balances
Importing trial balances
Using the client data screens
Printing the final accounts
Using Quick View/print
Dealing with fixed assets
Creating/filing accounts for Companies House

Other Topics
Periods of accounts and comparatives
Final accounts creation options
Cashflow statements for limited companies
Final accounts validation
HMRC Live validation
The trial balance import wizard
How the software handles iXBRL
The iXBRL viewer
Submitting accounts to HMRC and Companies House
Exporting self assessment data to tax packages
The Clients directory screen
Installing import conversion files
Final accounts formatting options               
Limited Company abbreviated accounts                                                                     
                                                                         

Overview
First Choice Final Accounts has an integrated module enabling users to create, validate, file and record Limited Company Accounts submitted to Companies House. Full, Abbreviated or Dormant accounts are handled and no separate data entry is required because the same data used for normal accounts creation is re-formatted for Companies House accounts. Accounts can be produced and filed electronically. Electronic submissions are monitored for acceptance and CH responses are recorded within the system. The software also caters for paper submissions where electronic submissions are not accepted, externally filed accounts and 'Amended' accounts. From accounts creation through to CH acceptance, users follow a pre-defined series of steps.

COMPANIES HOUSE PRESENTER ACCOUNT & AUTHENTICATION CODES
When you first use First Choice Final Accounts for electronic submission of accounts, you will be prompted to enter your Presenter ID and Presenter authentication code - unless you have already entered these on the User Options screen. These codes are issued by Companies House when you apply for a Presenter Account. (There is no fee payable for filing accounts. Hence there is no need to apply for a credit account, although you could do so instead)

Every company is issued with a company authentication code and this must also be included within the submission file. It can be recorded when you add a new company client file, otherwise you will be prompted to enter it when you file the accounts.

Getting started
The CH button on the toolbar opens the Companies House Accounts Filing screen. The button is not enabled when preparing DRAFT accounts but is enabled when the accounts status is changed to FINAL.

The Companies House Accounts Filing screen
The screen displays the relevant filing data for the current period for the selected company. The data is automatically filled in as you step through the filing process.

Paper/external Filing: Certain accounts and scenarios do not allow accounts to be filed online (see CH website). In such cases set the paper filing option. This will by-pass the online routine and just ask you for a filing date after you have printed and submitted the accounts off-line. The paper/external filing option is also selected when you wish to record a Companies House filing already submitted (Comparatives for example) or any accounts filed externally.

Company Size: Small, Medium Large. Company size determines what type of accounts can be filed. (See CH website).

Select Accounts to file: Full Accounts, Abbreviated Accounts & Dormant Accounts. Full Accounts & abbreviated Accounts are optional choices for unaudited small companies. Audited accounts can be either full or abbreviated but as CH does not - at present - accept audited abbreviated accounts electronically, the user is offered the choice of audited full accounts online or audited abbreviated accounts on paper.

The Dormant option is determined by First Choice during the creation process. Full Accounts for Companies House are identical to the accounts normally created except that the detailed Profit & Loss pages are never included. Abbreviated accounts automatically include the appropriate Balance Sheet statements as do Dormant accounts. 

Accounts File: This is the name of the accounts file created and is displayed after step 1 (Accounts creation). The name usefully indicates the type of accounts.

Submission No: This is the unique code generated during an online submission and is referenced by the CH Gateway when it responds.

View/Print Accounts: This buttons loads the accounts file into the browser for viewing and printing as required.

View Submission and View Response show the XML output and input files and are useful if a communication problem arises when submitting accounts. 

Pre-validate Accounts: Opens the CH Validator to check the accounts file for iXBRL validity prior to online filing. This validation check is optional.  To use the Validator:

• Click the Validator BROWSE button.
• Click the FILE NAME text box and press the right mouse button and select PASTE
• Click OPEN
• Click VALIDATE

If your file fails validation, report the errors to the developer or Companies House 

Clicking the SHOW IMAGE button will create a PDF of the accounts formatted by the CH system and is a replica of what is filed on the CH register.

Filing Status & Next Task: These show the current status of the filing and the next step to carry out. The Do Next Task button when clicked carries out the next step.

So to file a set of accounts at Companies House first select the Paper option if applicable, the accounts type and then click the DO NEXT TASK at each stage of the process. When you POLL CH Gateway for acceptance you usually get a response within a few minutes. This can be an ACCEPTED, REJECTED or PENDING response. If it is a PENDING response, try again or close the screen and return later and poll again. (Note) You can also POLL CH Gateway from the Clients Directory - this will report on ALL outstanding submissions and update files according to the respective responses.

IMPORTANT NOTE : Creating accounts which have already been filed at Companies House
The comparative year is a good example where accounts may have already been filed at CH prior to creating them in First Choice If you do not update the database, First Choice will assume the accounts have not been filed (and show them as unfiled in the Deadline report. To update the database, simply click the paper/external option and follow the instructions to record the filing date within the system. DO NOT TRY TO FILE THEM AGAIN ELECTRONICALLY.

Submitting Amended Accounts
If you wish to file amended accounts to Companies House after original accounts have been accepted, these cannot be filed online and can only be sent on paper.  In such cases First Choice enables you to create a new set with the required 'AMENDING' statements and to record this amended submission. 

The following section only applies to users who have created company accounts in First Choice prior to the integration of the Companies House Accounts filing module.

First Choice assumes that existing completed FINAL company accounts (including comparatives) created prior to the integration have already been filed at Companies House. If this is not the case, you will not be able to use First Choice to file them.