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Getting a warning about Client screen for "Provision for Liabilities"

Article ID
ias-2025
Article Name
Getting a warning about Client screen for "Provision for Liabilities"
Created Date
23rd March 2005
Product
IRIS Accounts Production
Problem
Getting a warning about Client screen for "Provision for Liabilities" NOT being filled in regards to Deferred Tax
Resolution
To clear this error, you need to go into: Edit / Data Screens / Notes to Financial Statements / Balance Sheet Items / Provisions for Liabilities and Charges / Movement in Provisions etc This screen is used to show the Movements within Balances which make up the figure for Provisions for Liabilities and Charges on the Balance Sheet. A description is required in the column on the left side of the screen ‘ Analysis Of Changes’. If the amount is a DEBIT prefix the figure with a – sign. If the amount is a CREDIT you do not need to prefix the figure with a sign. Balance at the start of the year and end of the year are necessary on this screen unless the figure is zero. Deferred taxation The column headed Deferred tax should be used exclusively for that purpose. Cross checks are carried out to ensure that: The figure entered for the Balance at Start Of Year agrees to the Totals posted to the Deferred Tax Accounts in the Comparative Year Posting Entry. The figure entered for the Balance at End Of Year agrees to the Totals posted to the Deferred Tax Accounts in the Current Year Posting Entry. Accounts that are checked include: 932 to 941 if using the ELTD chart Other provisions The next column should be used for any provisions other than Deferred Tax. If no heading is entered a standard heading of ‘Other Provisions’ will be used.

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