Partnership cannot be negative: General administrative expenses

Article ID

ias-12729

Article Name

Partnership cannot be negative: General administrative expenses

Created Date

5th March 2018

Product

IRIS Business Tax

Problem

When generating a Partnership tax return, the following validation warning appears: The value in the following box(es) on the Trading and Professional expenses section of the Partnership Tax Return cannot be negative: General administrative expenses.

Resolution

When generating a Partnership tax return, the following validation warning appears: The value in the following box(es) on the Trading and Professional expenses section of the Partnership Tax Return cannot be negative: General administrative expenses.

To resolve the above please do the following in Business tax:

• Go to Trades at the top of the screen | Partnership | Overwrite/Leave Alone – set to No

• Go to the Data Entry folders located along the left side of the screen

• Trading And Professional Income

• Income and Expenses

• Expenses and Costs

• Remove the negative amount from General administrative expenses

• Once all the above is completed and the figures are correct on the Partnership Tax return and Trade computation. You will need to regenerate the Partnership Tax return.