Manage accounting policies

Accounting policies are automatically added to a set of accounts based on the client type and in some cases, the balances that have been entered. You have some flexibility over the wording of some of these, and even whether they should be included or not.

To add a policy

Some policies like the leasing accounting policy are optional and can be added.

  • 1. Accounts Preview > from the table of contents click Notes to the Accounts.
  • 2. From the Notes to the Accounts section > Accounting Policies section > Click the policy block you want to add.
  • 3. If there are available policies to add, you’ll see a block with a plus symbol like this:
  • 4. Click the block to add it > change any default wording to suit your client > Save.
    If you make a change to default wording and want to undo it, click Reset to standard text.


To change a policy’s wording

  • 1. Accounts Preview > From the table of contents click Notes to the Accounts.
    Policies that are included are shown in the preview with options to Remove or Edit.
  • 2. From the policy you want to change > Edit.
  • 3. Make your wording change > Save.
    If you make a change to default wording and want to undo it, click Reset to standard text.


To remove a policy

  • 1. Accounts Preview > From the table of contents click Notes to the Accounts.
  • 2. From the policy you want to discard > Remove > Remove.

This can be added back with the standard text by clicking the block again in the accounts preview.

To manage depreciation rates

Where there are tangible fixed assets, the tangible fixed assets policy appears. You can edit this wording by following the procedure ‘To change a policy’s wording’ above, and adjust depreciation rates by following these instructions.

  • Data > from the table of contents click Notes to the accounts.

From the Tangible Assets Accounting Policy you can do the following:

  • Type in a Depreciation policy box to change an existing policy.
  • Delete an asset class by clicking the delete button
  • Create an asset class by choosing from the drop-down list, then typing in the depreciation policy box. Suggested policies appear but you can change these by replacing the text with your own.

Click Save when finished.

To adjust Intangible fixed assets and Goodwill policies

If the Intangible fixed asset or Goodwill policies are required, they’ll appear initially with example wording which you should review and change if necessary.

  • 1. Accounts Preview > From the table of contents click Notes to the Accounts.
  • 2. From either the Intangible fixed asset or Goodwill policy > Edit.
  • 3. Make your wording change > Save.
    If you make a change to default wording and want to undo it, click Reset to standard text.


If this article hasn’t answered your question, please consider searching the help or contacting us.