Business Tax- How to make entries of Turnover/Expenses manually for CT600?
Article ID
ias-12854
Article Name
Business Tax- How to make entries of Turnover/Expenses manually for CT600?
Created Date
31st July 2018
Problem
How to make the manual entries for Turnover and Expenses manually for Corporation Tax Return within Business Tax?
Resolution
Warning if you still use AP: If you still have Accounts Production data coming through into BT for the client – this manual entry of BT profit and expenses will create new entry(s) in AP which may not be reversed. You may need to recover a older IRIS backup or a old extract of the clients data if you want to go back to the original values before you made these manual entries in BT.
Please do the following to resolve this issue in Business Tax. Ideally if you have do not have the Accounts Production program, No Accounts Production data or you never use AP: –
- Load the Company in BT (you may get a warning ‘No accounts data’ as BT is defaulted to look for AP data, click ok)
- Go to Edit in the top left-hand corner
- Select ‘Update Profits’
- Manually make the entries for the Turnover and Expenses
- The software will automatically calculate the Profit (and also add these entries into AP if you have the product)
- Then use Edit and Postings to make other manual entries into the CT600
If a non resident company etc then read this KB
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