Use this screen to manage basic information and configure accounting options that will control how the system manages the accounts for the organisation.
A number of the information items are dependant on the type of legal identity of the organisation.
Business Details - Company Number/Partnership Number/Charity Commission Number
For a Company
Enter the company number supplied by Companies House. The number will be shown on the Certificate of Incorporation This is mandatory
If a valid company number has been stored clicking the will display a screen that compares some key company information stored on the system with that extracted from the Companies House database. The user may update the system values with the Companies House values by clicking the next to each value to be updated. Finally clicking to store the changes.
For a LLP
Enter the LLP number supplied by Companies House. The number will be shown on the Certificate of Incorporation and begins with the prefix OC3 This is mandatory
For a Not for Profit
Select the Charity Regulator appropriate to the entity Enter a Charity Commission number if it exists for the organisation. Additionally if the charity is also incorporated then add the Company Number.
Business Details - Legal Name
Enter the full name of the legal entity as registered with Companies House. This is required.
Business Details - Date Incorporated
Enter the date manually (e.g 19/12/2002) or click on calendar icon to select date from the calendar. This is the date recorded on Certificate of Incorporation.
Business Details - Annual Return Date (Limited Companies)
Enter the month and day that the company annual return is due each year. This will then be displayed as a reminder on the user home page after logging on.
Business Details - Annual Return Date (Sole Trader)
Enter the month and day that the self assessment return is due each year. This will then be displayed as a reminder on the user home page after logging on.
Organisation Details - Annual Return Date (Not for Profits)
Enter the month and day that the Trustees Annual Report is due each year. This will then be displayed as a reminder on the user home page after logging on.
Business Details - Trading Status
Select business status from list box, in most cases select ACTIVE. The other cases are specialised situations, please consult with your accountant before selecting.
Business Details - Principal Activity
Enter a description of the principal activity for year under review used in the year end Directors Report. This is required. Examples would be: 'Manufacture and distribution of computers' 'Provision of Kitchen design and consultancy services' 'Computer programming'
Business Details - Registered Office
The Registered Office is the address of a company to which Companies House letters and reminders will be sent. The registered office can be anywhere in England and Wales (or Scotland if your company is registered there). The registered office must always be an effective address for delivering documents to the company, and to avoid delays it is important that all correspondence sent to this address is dealt with promptly.
Business Details - Send Invoice to User
Select the User who is to receive the monthly invoice for the Liberty Accounts service. The invoice will be emailed to the email address associated with the User Name.
N.B. we only permit one invoice to be sent to one address.
Business Details - Alternative Billing email
If you wish to override the default email address used for the invoice, to send it direct to your bookkeeper for example, you may enter the preferred address in this field.
N.B. we only permit one invoice to be sent to one address.
Trading/Operating Details - Trading/Operating Name
Enter the trading name of the Business as Used on invoices etc.
Trading/Operating Details - Trading/Operating Address
The trading address of the business is the address for day to day correspondence.
Trading/Operating Details - Country
Select the country from the dropdown box. This selection has an impact as described below.
When a sales invoice or credit note transaction is entered if this country is the same as the country of the Customer then the Country line in the address is suppressed when the document is prepared for printing.
Trading/Operating - Contact Phone
The primary contact telephone number for your business. This will be printed below the business address on Invoices, Credit Notes and Customer Statements.
Trading/Operating - Contact Fax
The primary contact fax number for your business. This will be printed below the business address on Invoices, Credit Notes and Customer Statements.
Trading/Operating - Web Address
The web address for your business. This will be printed below the business address on Invoices, Credit Notes and Customer Statements.
Trading/Operating - Mail Address
The primary contact e-mail address for your business. This will be printed below the business address on Invoices, Credit Notes and Customer Statements.
Accounting Options - Service provider
For users who use Liberty Accounts through an advisor, the advisor is their service provider. Some advisors have multiple business centres and this option is used to control the association of the business with a business centre for invoicing purposes.
Accounting Options - Current Financial Year
The current financial year date fields are used to define the start and end of your current financial year, or an earlier year if you are inputing historic data. It is possible to set the dates to be more or less than 12 months. Liberty Accounts will automatically roll these dates forward when you pass your year end. However, the year will remain open for input until the year is closed via the close financial year transaction under the 'Special' menu.
Enter the dates manually (e.g 19/12/2002) or click on the calendar icon to select date from calendar. These are the start and end date of the current financial year. Examples '1/01/2002 to 31/12/2002' '1/04/2003 to 31/03/2004'
When entering dates manually, a date guessing routine speeds up the input by taking
the user input and assuming the missing month and or year based on the current date as the user leaves the field i.e.
the date today is 30th October 2009
- User enters 15 or 15/ and tabs - field displays 15/10/2009
- User enters 15/9 or 15/9/ and tabs - field displays 15/9/2009
Accounting Options - Opening Balance Lock State
The opening balance lock state allows a user to enable or disable the Opening Balances menu option under the Special menu group. By default the Lock State is set to 'Open', thus making the Opening Balances menu option available.
A user can set the lock state to either 'Open' or 'User Locked'. The Lock State will be automatically set to 'System Locked' once a Year End Close has been performed. When the Lock State is 'System Locked' the user no longer has the ability to change the lock state and the Opening Balances menu option will be permanently disabled.
Accounting Options - Transaction Lock Date
The transaction lock date can be used to prevent users adding or editing transactions for any date up to and including the transaction lock date. This can be useful where monthly or quarterly management accounts have been produced and it is desirable to prevent subsequent changes to data in the periods concerned.
If no date is entered users can add or edit transactions for any date after the end date for the last financial year to have been closed.
If the date is before the end date for the last financial year to have been closed it will be ignored and the year end date will be used.
Enter the dates manually (e.g 19/12/2002) or click on the calendar icon to select date from calendar.
Accounting Options - Charge Schedule
Select Month end, Year End or Manual from list box. This indicates when batch programs apply charges for asset depreciation. This is required. If you expect to produce monthly financial reports, select 'Month end'
Accounting Options - Track VAT
If you are VAT registered you need to track the VAT element of your transactions. To turn on vat tracking you should check the track VAT checkbox and enter a valid effective date.
Selecting Track VAT will automatically create the appropriate VAT control accounts if they do not already exist for the business. If your business deals with foreign VAT other than standard EU acquisitions you will need to add the foreign VAT tracking accounts using 'Add from Standard Accounts' under the 'Accounts' menu.
Accounting Options - Corporation Tax UTR
Enter your Corporation Tax UTR if you are an employer who is a limited company and intending to use the Payroll.
The reference is included each time an FPS or EPS is submitted.
The corporation tax unique taxpayer's reference is one of the references used by HMRC. The first 3 digits are a district reference and the remaining 10 characters are the unique taxpayer reference. It will normally be shown on a tax notification to file document from HMRC.
Accounting Options - SA/Partnership UTR
Enter your Self Assessment or Partnership Tax UTR if you are an employer who is sole trader or partnership and intending to use the Payroll.
The reference is included each time an FPS or EPS is submitted.
The SA or Partnership tax unique taxpayer's reference is one of the references used by HMRC. The first 3 digits are a district reference and the remaining 10 characters are the unique taxpayer reference. It will normally be shown on a tax notification to file document from HMRC.
Accounting Options - Primary Bank Account
This field is only available when creating a new business and is used to create a bank account for the business. If no details are provided a default bank account is created which can be updated at a later date if required via menu option Accounts--Bank/Credit Accounts.
This account is initially defined as the primary bank account so its details will appear on the invoice remittance slip. A different bank account can be selected as the primary bank account via menu option Business--Document Settings
Accounting Options - Sort Code
Sort code of primary bank account - this will appear on invoice remittance slip.
Accounting Options - Account Number
Account number of primary bank account - this will appear on invoice remittance slip.
Accounting Options - International Account Number
International account number of primary bank account - this will appear on invoice remittance slip if present.
Accounting Options - Bank Account Opening Balance
Enter an opening balance amount for the primary bank account. This amount can be updated at a later date if required via menu option Accounts--Bank/Credit Accounts.
Accounting Options - Bank Account Opening Date
Enter an opening balance date for the primary bank account. This date can be updated at a later date if required via menu option Accounts--Bank/Credit Accounts.
Accounting Options - Responsible Staff User
The Staff Member primarily responsible for this client can be selected from the list and displayed.
Free Options - Sales Quotes
Tick this box in order to activate the ability to prepare and manage sales quotes
Quotes can be prepared, accepted and converted to sales invoices
Free Options - File Uploads
Tick this box in order to activate the ability to use CSV format files to upload information to the system.
The Information that can be uploaded is:-
- Customer standing data - accessed via the LISTS menu
- Supplier standing data - accessed via the LISTS menu
- Sales Invoices and Credit Notes - accessed via the ACTIVITIES menu
- Supplier Bills and Credit Notes - accessed via the ACTIVITIES menu
For each upload process a User guide is available from the HELP menu or directly from the links below.
Free Options - Asset Register
Enable the asset ledger add-in with automated depreciation under the Add-Ins menu option.
Free Options - Operating Lease Register
Enable the operating lease add-in with automated periodic charging to profit and loss.
Free Options - Vehicle & Vehicle Allocation Register
Enable the vehicle register and employee allocation add-in.
Free Options - Branches/Activity Tracking
Enable analysis of transactions to branches and activities within this company. In Not-for-Profit accounts this is replaced with funds and activities but the option is automatically enabled by default.
When the Use Branches option is enabled the Detail Profit & Loss Report allows you to print a P & L for a given branch.
Free Options - Personnel P11D Expense & Benefit Tracking
Enable tracking of employee expenses and benefits for P11D online filing and reporting purposes.
Note that the Use Payroll box also needs to be ticked.
Free Options - Prompt for Analysis on Transaction Input
If enabled users are automatically presented with the Analysis tab when creating transactions.
If you use the analysis features such as Branches or P11D tracking this option helps to avoid the common mistake of forgetting to record your analysis.
Chargeable Options - Payroll
Enable the payroll.
This box also needs to be activated if the tracking of employee/director expenses and benefits for P11D purposes is required even if payroll is not being used.
Chargeable Options - Donor Ledger & Gift Aid
Enable the donor ledger and gift aid filing.
This box also needs to be activated to set up donors and record donations as well as file gift aid claims.
Chargeable Options - Stock Management
Enable the integrated stock management and recording.
This will allow access to the following functions:
- Stock Item Maintenance
- Stock Valuation methods - Standard, FIFO or Average
- Bills of Material and Works Orders
- Purchase Orders and Receipts
- Sales Order Processing
- Stock count and Other adjustments