Support topics - VT Final Accounts

Error in the turnover note in the abbreviated accounts in the May 2007 edition

In the May 2007 edition, the turnover accounting policy note in the abbreviated accounts of a small company is different to the main accounts.

Text in the main accounts:
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Incorrect text in the abbreviated accounts:
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

If you have already created a small companies workbook in the May 2007 edition you should manually correct the note in the abbreviated accounts.

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