After submitting your accounts to HMRC you have received an error message that states:
Text: Accounting standards applied (bus:AccountingStandardsApplied) is missing.
This error is normally caused by not being on the most up to date master format.
The latest FRS Master for v18.1 is 18.10 - 08 Feb 2017 UK-FRSLTD
To resolve this, you'll need to update your client to the latest master format
Updating a client to the latest master format
- Open your client list and expand your client.
- Highlight the relevant year and click on edit.
- This will open a new window.
- At the bottom of this screen the master client is referenced.
- Click on the ellipsis button this will bring up a list of potential master clients.
- Double click on the relevant client, this will bring up a number of options for that master.
- Double click on the most recent date i.e. 08.02.2017
- Click on close.
- At the bottom of the client list there is an Update button, click that button.
- A new window will open, click on next and tick the boxes for update mappings for Sage Corporation Tax and also the tick box for Taxation.
- Complete the process.
Once you have updated to the latest master, you'll need to recreate your IXBRL accounts and then re-tag your computation in Sage Corporation Tax before submitting to HMRC