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Quick Books Balance sheet Headings

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  • 28-05-2015 9:57am
    #1
    Gerry1995
    Registered Users Posts: 224 ✭✭


    Quick question (pun) I'm using quickbooks for my year end accounts and having entered all the figures I produce a P&L and Balance sheet. My question relates to the balance sheet as prepared by quickbooks in particular the headings and layout. So here I show the headings as from quickbooks, the figures are made up, would anyone let me know if this right as it seems to conflict with what my accountant did last year.

    Current Assets
    Bank account 5,000
    Cash on hand 1,000
    Total current assets 6,000

    Liabilities and shareholders equity
    Current liabilities
    Credit card 100
    Total current liabilities 100

    Shareholders equity
    Net Income 2000
    Opening balance equity 3800
    Ordinary shares 100
    Total shareholders equity 5,900
    Total liabilities and equity 6,000

    Any comments would be appreciated


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    #2
    Gard1
    Registered Users Posts: 90 ✭✭Gard1


    If the accounts are being prepared for a ltd company, they should follow the layout as per companies acts depending on size of business. The CRO are sticklers for this. Quickbooks is uk software so its set up for uk companies not irish. Depending on the version of quickbooks there can be an option to design your own financial statements so you can spend hours moving it to to meet the irish companies act layout


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