Form
1
Step 1
Explanation
- What is FADS?
- Final Accounts for Directors and Shareholders
- It is a complete package of the Monthly Management Accounts for up to 12 months
- If it is for less than 12 months, it is on a Cash basis and represents transactions to date.
- If it is for 12 months, it is for year end transactions.
- These are the actual workings in numerical terms for authorisation and approval by you.
- These lead to the production of the following, using the figures, but in the required legal formats:
- The figures do not change but the format does
- Final Accounts for Companies House (FACH).
- Final Accounts for HMRC (FAIR).
- Corporation Tax Return (CT600).
- All of which you would already have received, authorised and approved for filling.
- Once that process has been completed, a “year end” (period end) process has to be carried out in order:
- To close that period end e.g. year end 31 March 20xx.
- To commence the next period e.g. year commencing 1 April 20xx.
- What Documents Are Included In The FADS Period End Package?
- In addition to copies of the above documents you will receive the following, where appropriate:
- Detailed Nominal Ledger (shows every transaction in the accounting records);
- Final Trial Balance;
- Final Balance Sheet;
- Final Profit & Loss Account;
- Sales Day Book;
- Detailed Debtors Listing;
- Bought Day Book;
- Detailed Creditors Listing;
- Mileage Allowance;
- Use of Residence;
- Incorporate all Bank, Cash, Credit Card and any journals.
- In addition to copies of the above documents you will receive the following, where appropriate:
- What Is The Purpose Of The Document?
- To ensure that you have access and ownership of their accounting records.
- To see how the breakdown of the figures submitted on your behalf.
- To enable the current accounting period to commence (see above).
- Any additional subsequent requests for this or indeed any information to be provided again will be subject to our standard fee.
- What Happens If You Discover Any Errors Or Exclusions?
- This should not happen as the entire exercise would only have commenced after your approval.
- In the final analysis “Shout” and bring it to the attention of Avar.
- You will then be advised as to the numerous options.
Guide
- The purpose behind all forms:
- is to ensure that these are automatically completed
- with your personal and individual details for speed and easiness of use.
- With the exception of your security PIN.
- For all forms thereafter, you would only be required to enter your security code and submit.
- We have developed a series of Forms to simplify the following:
- Data capturing
- Information gathering
- Authorisation and Approval
- Once this is completed form, ONLY then will we be able to execute the instructions.
- All forms can be completed:
- online,
- by telephone
- voicemail, available 24/7/365.