Report templates - Annual accounts templates up to do date and in line with legislation
The Trust - Annual Accounts Xero SPFR template for trusts > Notes to the Financial Statements > 1. Reporting Entity states "Legal or Trading Name is a trust established by a trust deed dated [insert field: trust deed date], and subject to the Trustees Act 1956." this is incorrect as the Trusts Act 2019 passed on 30 July 2019 has replaced the Trustee Act 1956. Xero have advised "While the team is aware the templates may need updating given current focus being on the expiration of old reports they do not have the capacity to give it a priority at this time.
For now you will need to update the templates manually." So just a heads up to other accounting firms on this issue.
Natasha Smith
shared this idea
Hi team, templates have now been updated to refer to the new legislation. Thanks for your contribution and sharing in product ideas, here.
