HMRC accounts filing software

CPenney Registered Posts: 32 Regular contributor ⭐ 😼 ⭐
Please could someone offer advice as I'm not afraid to admit I am out of my comfort zone! I work as an MIP but only for a few sole traders - I have never done Ltd Company accounts in practice. I am employed by a Ltd Co. and the director has decided that we should complete the accounts in house this year. I have produced the accounts on paper but I am struggling with HMRC's accounts filing software.

My first problem is that I have a capital redemption reserve on the accounts and am not sure where to enter it on HMRC software?

Second problem is my revaluation reserve. Looking at previous years accounts there is a transfer from the reserve to the P&L account (equal to depreciation charge on reserve) so the effect in the accounts is to reduce the reserve and increase the retained profits. How do I enter this onto HMRC's software? I have tried entering it as a surplus on balance sheet - this gives me correct P&L account figure but then , in the revaluation reserve notes if I enter as a minus figure to reduce reserve it flags that it must match the revaluation surplus value entered on the balance sheet?! In the accounts the P&L account figure is increased by the transfer from revaluation reserve but the auto calc on HMRC's software does not include the surplus as part of the profit for year figure so figures are thrown out there too!

I have made it clear to my director that I am struggling with this but he has told me not to worry as he is the one who signs off the accounts and is responsible for them - all well and good but it's not the way I like to work at all!

Any advice would be HUGELY appreciated - I have gone around in circles with this one -I have searched everywhere and don't know what else to do!

Chris x
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