The FRC issued guidance on tagging "That should help preparers of tagged accounts to identify potential gaps, errors or weaknesses in tagging. They may also help consumers in assessing tagged data" Following this guidance we have added a layer to the tagging process called FRC validation.
The FRC checks are not mandatory at this time.
If you wish to perform the checks, recommended by the FRC, click 'Yes'. The software will then look up the calculations for various tags that the FRC recommends should be reviewed, and ensure that any opening balances/additions/write offs all correspond and/or reconcile, and have been tagged. Any that don’t have all the tagging or have incorrect totals will require you to investigate the Tags highlighted. Please call our support team on 0191 479 5999 and we can support you on reviewing the Tags.
If instead you wish to miss out the checks, clicking ‘No’ at this stage will allow you to continue tagging without performing the FRC checks.