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The Investment property (reconciled through IPR) account template sits directly on a client's investment property ledger account. It displays the reconciled carrying value from the Investment property register, along with a reconciliation indicator, rather than asking for any input of its own.

Table of contents 

When should I use this template?

Apply this account template to any nominal ledger account that holds investment property, so that whoever is reviewing the trial balance can see at a glance whether the account agrees with the supporting schedule, without having to open the register itself.

Before you start

  • Add the Investment property register to the workflow and populate it first. This account template has nothing to show without it. For help with adding reconciliations to a workflow, see How do I set up Workflows and Workflow Working Screens?
  • Apply the account template only to accounts that fall within the account range the register is mapped to (account 1109, Investment properties, by default). Applying it elsewhere triggers a warning telling you to pick a different template.

Background

Investment property is generally held at fair value under FRS 102, with fair value movements recognised in profit or loss rather than depreciated. This account template reflects that: it has a single Carrying value as per workings figure rather than separate cost and accumulated depreciation columns, because there is no depreciation being tracked underneath it.

Steps

  1. Apply the template to the relevant investment property account or accounts in the trial balance.
  2. Check the table that appears. It shows one row, Investment property, with the carrying value taken from the Investment property register (linked, so you can click through to it) and a Reconciled column.
  3. Review the Reconciled column. A green indicator means the register's total carrying value agrees with this account's trial balance value. An unreconciled indicator means there is a difference. Click into the register to see the trial balance value, workings value, and the difference itself, and resolve it there.
  4. If you see a warning instead of the table, it means either the Investment property register has not been added to the workflow yet, or this account template has been applied to an account outside the register's mapped range. Add the register, or check the account, and the warning should clear.

What flows through to the rest of the accounts/workflow?

Nothing flows onward from this account template itself. It is a display and reconciliation-check layer only. All of the figures it shows, and everything that feeds the accounts note and (where relevant) the Corporation Tax package, comes from the Investment property register and the Investment property summary.

What rolls forward next year?

Nothing. This template has no data of its own to roll forward. Everything it shows is recalculated each period from the Investment property register.

Where the data comes from

Entirely from the Investment property register: the carrying value, the account range it is checking against, and the reconciliation status and explanatory text all come from that template's results.

Frequently asked questions

Why can I not enter anything on this template?

That is by design. It is a reconciliation display for the ledger account, not a data entry template. All the underlying detail is entered on the Investment property register.

I get a warning saying this should not be used on this account - what do I do?

Check that the Investment property register has been added to the workflow. If it has, check that the account you have applied this template to actually falls within the account range the register is mapped to (1109 by default, or your firm's equivalent).

How do I fix an unreconciled indicator here?

You cannot fix it from this template. Click through to the Investment property register (via the linked carrying value figure) to see and resolve the underlying difference.