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                                                                     
                                                                         

 

 

 

                        

Exporting self assessment data to tax packages

This topic applies only to non-corporate accounts (Sole traders and  Partnerships)

First Choice Final Accounts can export the final accounts data to tax software packages.  If your tax software supports the Standard Name Format import from file facility - as most do - then when you create the final accounts and select the Export data to tax package checkbox, the current period figures on the profit and loss account and balance sheet are automatically saved in a file called TxExport.SNF. You will find this in the folder where First Choice Final Accounts is installed.

Check your tax software package how to set up and use the import facility - its usually just a case of  installing the path of the import file (TxExport.SNF) and clicking an import button.

 We understand that the following tax packages support the Standard Name Format - if you know of others please let us know.

BTC Software - SA Solution

Drummohr Technology - Tax Assistant
Legatio - Ftax

TaxCalc - except TaxCalc Lite                           

Forbes Computer Systems - ProTax

Objective Tax/Keytime

QMS - SA2000
PTP Software - TaxReturn
 

Each account in the Accounts description file is pre-tagged with a Tax Standard Name element. (TSN). There should be little need to change these presets, but this can be easily done by opening the description edit screen.