Company limited by guarantee sets of accounts
You can now create a set of Non-charitable Company limited by guarantee accounts in Sage Final Accounts.
The Company limited by guarantee option is available in the following packs:
You can make this selection when creating a new set of accounts or at any time within Set of Accounts Options > Period Options > Compliance Pack.
The Company limited by guarantee option will:
- Update the Cover page to include reference to Company limited by guarantee
- Include an optional Limited by guarantee note
- Allow you to change the Profit/Loss description to surplus/deficit throughout the set of accounts
- Automatically include the relevant iXBRL tag for Company limited by guarantee to ensure a valid submission file is created for HMRC and Companies House.
- 1. From the Accounts Preview menu scroll down to review the amended Limited by guarantee note.
- 2. Select Edit.
- 3. Enter text as required.
- 4. Select Save.
Option to change the Profit/Loss description
This option will become available when the Company is limited by guarantee and will automatically change all instances of profit/loss to surplus/deficit, and ‘profit and loss account’ to ‘income and expenditure account’ throughout the set of accounts.
This option is located in the Data tab > Income statement > Profit/Loss description.