FAO Brian D

System

Hi Brian

Did you see my reply to your thread?

System

Re:FAO Brian D

Guess not then! As I have not had a response I have removed my answer.

Steve

p.s. next time someone replies to your questions - a thanks wouldn't go amiss. It's common courtesy and doesn't cost a thing.

System

FAO Brian D

Hi!

I'm sorry for not coming back and thanking you! You are quite right that a thank you does not cost anything!!

I have not been on the AAT website for some time due to work!!

If you could give me the answer again, or if not nevermind!!

Thank you for your time and help!

:roll:

System

Re:FAO Brian D

No problem Brian. Apologies for the strong tone of my message I was having a very bad week that week!

Basically, your loss for the year would go into the same place as a loss in any other set of accounts. The only difference is is that instead of calling it profit and loss reserves it is known as "accumulated fund". For example:

Extract (Balance Sheet):

Net current assets:
Creditors more than one year:
Net Assets:

Represented by:
Accumulated Fund

The accumulated fund should (in theory) be your balancing figure left after you have posted all your income/expenses and fixed,current assets and liabilities. The loss for the year should reduce the brought forward accumulated fund (or increase it if it was an accumulated loss).

Any ? please shout.

Steve

Regards
Steve

System

Re:FAO Brian D

Hi Brian,

Following on from my last post - if you are an AAT member (fully paid up member) you should have received the last set of accounts - these are an ideal illustration to what I am saying above.

Again, if you need any further help please let me know.

Regards
Steve

System

Re:FAO Brian D

Hi Steve,

Thank you for posting your reply.

Yes, I'm an AAT memeber and I have indeed received the accounts of the AAT. The AAT accounts certainly illustrate what I'm doing with the branch accounts.

I appreciate your help, and above all your time.

Many thanks,
Brian