Quick Books Balance sheet Headings

Gerry1995

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

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