First Choice Final Accounts home page

User guide

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                                                                     
                                                                         

 

 

 

                        

Final  accounts production checklist
  • Add a new posting file and select the appropriate template.
  • Post the new period's data or import an external trial balance or do both if necessary.
  • Add or edit the client's standing data if necessary. (Limited companies)
  • Create the accounts having selected the options required. (Check Export data to tax package if you are creating a Self Assessment return at the same time)
  • Correct any validation errors.
  • Pass the accounts through the HMRC live validation service. (Limited companies)
  • Save with 'FINAL' status (optional) and Print.
  • Create accounts for Companies House, file electronically or on paper. (Limited Companies only)
  • For Limited companies the iXBRL file is stored in the HMSoft\First Choice Final  Accounts\ Accounts folder and can be imported into your Corporation Tax package when you are ready to submit the return to HMRC.