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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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