Most accounting softwares use the term Profit and Loss & Balance Sheet. When taking on a new client and I prepare accounts using Sage, they instantly question the difference in terminology used to what their previous accounts showed.
This is an unnecessary discrepancy and something that should be possible to amend as and when an accountant wish to display them in a certain way.
When filing the accounts on Companies House it is then visible to the public and it just appears messy and confusing when all other accounts have stated P&L and Balance Sheet.
Hope this isn't too difficult to introduce?
Mateusz Lis
