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Can I show just the Capital Account without a Current Account for a partnership?

Article ID

ias-1677

Article Name

Can I show just the Capital Account without a Current Account for a partnership?

Created Date

27th August 2004

Product

IRIS Accounts Production

Problem

I only wish to show a Capital Account without a Current Account on Partnership/Sole Trader Accounts?

Resolution

When posting on the EPST chart, make sure postings go to Account 985 Current Accounts and NOT Account 975 Capital Account. If IRIS sees postings to only the Current Account then it will make reference to the Capital account rather than the Current Account.

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