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Business Tax- Total of loans repaid, released, written off is higher then total of loans made during period

Article ID

business-tax-total-of-loans-repaid-released-written-off-is-higher-then-total-of-loans-made-during-period

Article Name

Business Tax- Total of loans repaid, released, written off is higher then total of loans made during period

Created Date

15th June 2023

Product

Problem

IRIS Business Tax- Total of loans repaid, released, written off is higher then total of loans made during period

Resolution

Tax

This also applies if you are trying to repay a loan brought forward but when you enter any date of repayment it shows: ‘The date of repayment must be after the period end date’

1.Load the company and relevant period

2. Go to Data Entry | Loans to Participators

3. Override the values to zero value or to the new remaining value. (If its a B/forward value then reduce it manually)

4. Go to Data Entry | Summary – tick ‘For earlier period’ within the Repayment Claim section edit notes and explain why you removed/reduced the figures

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