Key features
VT Final Accounts, our accounts production package, runs in Microsoft Excel and produces statutory, sole trader and partnership accounts from trial balance stage upwards.

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• Easy to use and customise

• Trial balance can be entered directly into Excel or automatically obtained from the VT Transaction bookkeeping package

• Choice of a simple two column trial balance or an extended trial balance with any number of adjustment columns

• Add-in program adds features to Excel such as the automatic hiding of lines and notes with nil balances and automatic note numbering

• Enhanced print button enables all the sheets making up a set of accounts to be printed out together and correctly numbered

• Profit and loss account and balance sheet for sole traders and partnerships can be exported to tax software packages at the touch of a button

• Includes abbreviated accounts for small companies

• Can be used for an unlimited number of clients/companies

VT Final Accounts - Introduction
VT Final Accounts, our final accounts package, runs in Microsoft Excel and produces statutory, sole trader and partnership accounts based on templates contained within the package. The accounts look as if they have been prepared on a top quality word processor with justified and word wrapped text.

VT Final Accounts also contains an add-in program which adds features to Excel. The add-in features look and feel as if they were a natural part of Excel and enable many tasks to be automated.

Because of its ease of use and flexibility, VT Final Accounts appeals to a broad range of users such as freelance accountants, firms in practice and companies with just one set of accounts to prepare per year.

VT Final Accounts - The templates

The small companies template is based on the Financial Reporting Standard For Smaller Entities.

Both the small and medium/large companies templates contain a fully automatic cash flow statement. This can be excluded if not required.

For small companies, abbreviated accounts for filing with the Registrar of Companies can be produced alongside the normal accounts avoiding the need for trial balance information to be entered twice.

VT Final Accounts - Direct entry of a trial balance

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You can enter a trial balance directly into Excel if VT Transaction has not been used for the bookkeeping. Each template has a worksheet with a pre-formatted trial balance with current year and comparative columns.

There is a button on the add-in toolbar which simultaneously adds new rows to the printed part of the accounts and the trial balance. This is useful if the templates do not contain all the detail that you want. There is also a button to convert the TB sheet into an extended trial balance with any number of adjustment columns.

VT Final Accounts - Importing a trial balance from the VT Transaction bookkeeping package
To import a trial balance from VT Transaction, you just have to click on the Get Balances button on the add-in toolbar in Excel. The system will detect if you have created new accounts in VT Transaction and you will be asked where you want them shown in Excel. The process is very straightforward.

VT Final Accounts - Other data
There is some numerical data (such as the details of directors emoluments) which cannot be obtained from a trial balance. For convenience, this is all grouped together and input on a single sheet.

VT Final Accounts - Report and other options

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The add-in program provides a Workbook Properties dialog which enables many disclosure options to be altered at any time.

When an option such as the inclusion of an audit report is changed, associated disclosures such as the wording at the bottom of the balance sheet and the inclusion of a statement of directors responsibilities are automatically changed.

The following options can be altered using the dialog:

The inclusion of a contents page
The inclusion of a company information sheet
The inclusion of comparative columns
The inclusion of a balance sheet (sole traders and partnerships)
The inclusion of abbreviated accounts
The inclusion of a statement of total recognised gains and losses
The location of the statement of directors responsibilities (directors report or separate sheet)
The inclusion of a cash flow statement and associated notes
The type of report (none, accountants or audit)
Whether the company has more than one director
Whether the sole director is female
Whether the company has more than one director
The font and underline style used throughout the workbook

VT Final Accounts - Printing

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For convenience, the various sections of the same set of accounts (cover, directors report, audit report, profit and loss account, etc) are each contained on a separate worksheet within a workbook.

It is quite hard using standard Excel commands to print all these sheets together, and to correctly number them.

In order to print out all the sheets in one go (and correctly number them), the add-in program provides a Print Accounts button. There is also a Preview Accounts button as well.

VT Final Accounts - Checking that the accounts balance
The templates supplied have a series of balance tests set up to ensure that all aspects of the accounts balance. A balance test is a specially named pair of cells. This enables the add-in program to check that the accounts balance.

Whenever you print or preview the accounts, the add-in program warns you if the accounts do not balance.

For instance, the balance sheet or cash flow may not balance, or there may be inconsistencies between the current year and comparative trial balances.

VT Final Accounts - Automatic text
Text which changes with the results, such as Profit/(loss), is automatically altered.
This is achieved by the use of a custom function which looks like this (you don't have to type this function yourself - it is already there in the templates):

=SWITCH("Profit", "Loss", C33, E33) & " for the year"

Depending on the values in cells C33 and E33, this formula will display one of the following:

Profit for the year
Loss for the year
Profit/(loss) for the year
(Loss)/profit for the year

VT Final Accounts - Automatic pluralisation
Words such as director/directors, director’s/directors’ and his/her/their responsibilities are automatically altered depending on the settings in the Workbook Properties dialog.

VT Final Accounts - Automatic hiding and note numbering
The templates contain virtually all the headings and notes required by the Companies Act and Financial Reporting Standards. Many of these are often not needed.

The add-in program provides an AutoHide button, which automatically hides all lines and notes with nil balances. If they become relevant in future years, they can be automatically unhidden.

Note numbering is fully automatic. When you click on the AutoHide button, all the notes that remain visible are re-numbered.

VT Final Accounts - Comparative data
When you produce accounts for the next year, all the trial balance and other data can be automatically copied to the comparative columns.

If you are producing accounts for a new company or business, all the comparative columns can be automatically hidden, and then unhidden in subsequent years.

VT Final Accounts - Customising a set of accounts
The templates are not protected and can ultimately be altered in any way you want, dependant only on your skill in using Excel.

VT Final Accounts - Self assessment accounts data
Accounts data for an unincorporated business can be automatically sent to tax software packages.

Exporting data is extremely fast and easy and far quicker than typing the numbers into your tax package again.

VT Final Accounts - User guide and on-screen help
An easy to follow user guide is provided and the package has context sensitive on-screen help.

You are also asked if you want to display a list of instructions when you create an accounts workbook from a template. The instructions are tailored to the type of template you have selected.

VT Final Accounts - System requirements

• Microsoft Excel 97 or higher. Excel is included in Microsoft Office
• Pentium PC with 32MB of RAM
• 4MB of hard disk space

VT Final Accounts - Installation
The package is supplied on CD-ROM. The set up program starts automatically when the CD is inserted.