Xero tax (UK) | Balance sheet tagging
I was tagging my balance sheet and my VAT balance in the current year is a creditor but the balance last year was a debtor balance. Is there a way to tag them seperately so my debtors and creditors balances in the current and prior year are correct?
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Crosby Enninful
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Hi team this is now available to all Xero partners in our new company accounts production solution.
As mentioned in my last update this product leverages report codes in Xero to produce the statutory accounts as opposed to iXBRL tagging and does not automatically reverse any negative balances, meaning you can now offset balances as you need to. 😊
We're also currently working on 'switch rules' you have today within Reporting to give you the control when you do need to present negative balances.
