| Overview |
When creating a Year End Accounts task in BrightTax, you must assign an Accounts Production template before you can open and complete the accounts. The template determines the accounting standard, the structure of the financial statements, and which notes are included. This article explains the available templates and which to use for each client type.
| ⚠ Important: Expired templates (2021 versions) are still visible in the template dropdown but must not be used for new accounts. Always select the current 2023 version of the relevant template. |
| Active Templates — Use These for All New Accounts |
| Template Name | Standard | Use For |
|---|---|---|
| Company Small (FRS 102 Section 1A 2023) | FRS 102 | Small companies filing under FRS 102 — the most commonly used template |
| Company Small (Ltd by Guarantee) (FRS 102 Section 1A 2023) | FRS 102 | Companies limited by guarantee (e.g. charities, clubs) |
| LLP Small (FRS 102 Section 1A 2023) | FRS 102 | Limited Liability Partnerships |
| Micro Entity (FRS 105 2023) | FRS 105 | Micro-entity companies filing under FRS 105 (turnover ≤ £632k, balance sheet ≤ £316k, ≤ 10 employees) |
| Micro Entity (Ltd by Guarantee) (FRS 105 2023) | FRS 105 | Micro-entity companies limited by guarantee |
| Partnership | — | General partnerships and LLPs not using the LLP Small template |
| Sole Trader | — | Sole trader accounts |
| Expired Templates — Do Not Use for New Accounts |
The following templates are visible in BrightTax but are no longer current. They were used for accounts prepared under the 2021 versions of FRS 102 and FRS 105. Do not select these for new accounts.
| Expired Template | Status |
|---|---|
| Company Small (FRS 102 Section 1A 2021) | Expired — do not use |
| Company Small (Ltd by Guarantee) (FRS 102 Section 1A 2021) | Expired — do not use |
| LLP Small (FRS 102 Section 1A 2021) | Expired — do not use |
| Micro Entity (FRS 105 2021) | Expired — do not use |
| Micro Entity (Ltd by Guarantee) (FRS 105 2021) | Expired — do not use |
| Choosing Between FRS 102 and FRS 105 |
The key decision for most company clients is whether to use FRS 102 Section 1A or FRS 105 (Micro Entity). FRS 105 has simpler disclosure requirements but can only be used where the company qualifies as a micro-entity.
| Threshold | FRS 102 (Small) | FRS 105 (Micro Entity) |
|---|---|---|
| Turnover | Up to £10.2 million | Up to £632,000 |
| Balance sheet total | Up to £5.1 million | Up to £316,000 |
| Employees | Up to 50 | Up to 10 |
| Must meet | At least 2 of the 3 | At least 2 of the 3 |
| ✔ Tip: When in doubt, use FRS 102 Section 1A. It is suitable for all small companies and provides more disclosure than FRS 105. FRS 105 produces simpler accounts but has more restrictions on what can be included. |
| Limitations of BrightTax Accounts Production Templates |
BrightTax Accounts Production templates use a fixed trial balance structure. The following are not supported within the templates:
- Adding custom trial balance lines
- Adding custom ledger accounts or nominal codes
- Changing the structure or ordering of pre-existing lines
If your client requires a more flexible trial balance — for example, because their chart of accounts does not map neatly to the standard structure — BrightAP is the appropriate solution. Contact the Bright sales team at brighttaxsales@brightsg.com for more information.
| Frequently Asked Questions |
Q: Can I change the template after I have started entering data?
A: No. The template is assigned at the point of task creation and cannot be changed once data has been entered. If you need a different template, discard and delete the task and recreate it with the correct template.
Q: What is the difference between the Partnership template and the LLP Small template?
A: The LLP Small (FRS 102) template is for Limited Liability Partnerships filing under FRS 102. The Partnership template is for general partnerships not required to file under FRS 102. Use the LLP Small template for all LLPs.
Q: My client was previously using the 2021 template — do I need to change?
A: Yes. For any accounts with a period ending after the effective date of the 2023 standards, use the current 2023 template. The 2021 templates are expired and should not be used for new or ongoing accounts.
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