Where to make an entry for Lease Premium?

Article ID

ias-12643

Article Name

Created Date

22nd November 2017

Problem

Where to make an entry for Lease Premium?

Resolution

To make this entry please do the following in Business Tax:

– Go to Edit in the top left-hand corner

– Posting

– Click on the “Plus sign” next to Trade Expenses Allowable

– Specific posting

– Click Insert on the bottom right hand of this window

– Select any suitable Expense Type

– Enter the Description (this is the narrative which will appear on the Tax computation) and enter the Amount

This will appear as a deduction within the Tax Computation.

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