- If the company is not intended to be Audit Exempt, you can untick this option in the compliance database (Compliance Database> Client Details> Key Information).
- After confirming this detail, check what postings you have made to the Nominal Reporting Group for Auditors Remuneration AudRem and AudRemAud in Nominal Ledger> Nominal Reporting Group.
- When clicking into the Nominal Reporting Group, we see that balances have been posted to Nominal Account 369 which is connected to Auditors Remuneration.
- To resolve this error, all postings need to be removed from this nominal reporting group and its associated Nominal Codes.
- In this example, we will move this journal posting to the Balance Sheet suspense account Nominal 999.
- Click save at the bottom of the page to save these changes.
- Comparative Balances will need to be moved as well – follow the below steps.
- In this example, I will move this comparative balance from 369 Audit to General Expenses Nominal Account 381.
- First, Zero the balance in 369 Audit Accountancy.
- Now, take note of the figure in 381 General Expenses 5946.86.
- When combining this balance which currently exist in General Expenses + Audit Accountancy, the total for this General Expenses account will be 13,030.86 (5640.86+ 7390).
- Click back to save these changes.
- When refreshing the accounts pages, you will see the error has been resolved.
Accounting & Disclosure Error: Auditors Remuneration has been posted for Audit Exempt Company
