In AutoCountsystem.com/autocount-accounting/">AutoCount Accounting, I believe that everyone had been familiar with names such as Balance Sheet, Profit and Loss etc. However do anyone of you out there heard of Financial Reporting Standards (FRS) Terms?
FRS are terms designed as a common global language for company accounts which understandable and comparable internationally. If you wish to follow these terms, it is applicable in AutoCount Accounting as it can generate those related financial reports using these particular terms.
To perform this it’s pretty simple, just go to Top Menu –> Tools –> Options –> Tick ‘Use New Financial Reporting Standards (FRS) Terms’ –> Click OK to save. You can then preview your financial reports such as Profit and Loss or Balance Sheet and you will realize that the names had been changed into this FRS standard.