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.
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