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How to enter tax on NSB interest account

Article ID
ias-12123
Article Name
How to enter tax on NSB interest account
Created Date
13th October 2015
Product
IRIS Personal Tax
Problem
When entering an NSB Account I am unable to enter tax deducted at source.
Resolution
Users are required to enter this interest using the first option bond type, this can be done as follows: 1. Log on to IRIS Personal Tax and select the client 2. Click Interest and select NSB accounts 3. Click New and select the account type as First Option Bond and click OK 4. Enter the income received and tax deducted then click OK. The tax deducted will then be included correctly within the amount of tax deducted at source shown on the tax computation. Note that the first option bond type should be used for all accounts where tax has been deducted at source- regardless of what type of bond the client has. For information on editing an existing account into a first option bond please see KB item 8597

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