This release comprises of the following compliance changes in May 2024.

Company 1.3 Template Amendments

Show Adjusted Profit Computation in Produced Accounts

We have introduced a new Compliance Database option to show the Adjusted Profit Computation under Produce Accounts. To generate the Adjusted Profit Computation under Produce Accounts, select Show Adjusted Profit Computations under Produce Accounts? option under Compliance Database > Other Information > Adjusted Profit Computation > Add Backs. 

The Produce Accounts section will display the Adjusted Profit Computation.

Notes to the Financial Statements

Show Financial Instruments Introductory Statement 

We have introduced a new Compliance Database option to add an introductory statement in the Financial Instruments section under Notes to the Financial Statements of the produced accounts. To add a Financial Instruments introductory statement, enter the required text in the Financial Instruments introductory statement? text box under Compliance Database > Primary Statements > Accounting Policies > Financial Instruments. You can modify the introductory statement as per requirement.

The Notes to the Financial Statements will display the Financial Instruments introductory statement in the produced accounts.

Sole Trader Template Amendments

We have introduced two new Compliance Database options to show the Adjusted Profit Computation separately under Produce Accounts or inside ROI Pay and File Income Tax under Produce Accounts. This change is only applicable for Republic of Ireland entities.

• To generate the Adjusted Profit Computation under Produce Accounts, select Show Adjusted Profit Computations under Produce Accounts? option under Compliance Database > Other Information > Adjusted Profit Computation > Add Backs.
  The Produce Accounts section will display the Adjusted Profit Computation.
• To view the Adjusted Profit Computation under Produce Accounts inside ROI Pay and File Income Tax, select Show Adjusted Profit Computations under ROI Pay and File Income Tax? option under Compliance Database > Other Information > Adjusted Profit Computation > Add Backs. 
  The ROI Pay and File Income Tax - Extract for Form 11 under Produce Accounts will display the Adjusted Profit Computation.

Credit Union Template Amendment

The reference to Credit Union Acts 1997 to 2018 is now replaced with Credit Union Act, 1997 (as amended) throughout the produced accounts.