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Does IRIS have a specific format for Rental, Lettings, Investment Property Acc?

Article ID
ias-8087
Article Name
Does IRIS have a specific format for Rental, Lettings, Investment Property Acc?
Created Date
12th August 2009
Product
IRIS Accounts Production
Problem
Does IRIS have a specific format for Rental, Lettings, Investment Property Accounts?
Resolution
Currently IRIS does not have a specific format to produce Property, Rentals, Lettings and Investment Property Accounts. There is a request for: – Letting agencies – Rental companies – Flat management companies – RTM (Right to manage) – Resident associations – Investment property companies – Housing associations However users may choose to adopt the EPST chart to produce the accounts as this chart does not make reference to any legislation, eg. The Companies Act. If users choose to adopt the EPST chart to produce the accounts then they are required to have the business type as a ‘SOLE TRADER’ or a ‘PARTNERSHIP’, not ‘OTHER’. This is because the business type ‘Other’ is reserved exclusively for the Pension Chart, PEN#. To amend the Business Type go to: 1. CLIENT|VIEW 2. CHOOSE THE APPROPRIATE BUSINESS TYPE FROM THE DROP DOWN BOX 3. SAVE AND CLOSE THE SCREEN

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