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Post Info TOPIC: SAGE Instant Accounts & Corporation tax provisioning
BallGazer


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SAGE Instant Accounts & Corporation tax provisioning
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Hi Guys

I am new to this forum and would appreciate any help with an issue I have using an (old) version of SAGE IA (V11).

My problem is I would like the P&L report to be expanded to show a provision for CT after the Net profit and carry forward the profit after provision for tax to the Balance sheet. The contra would be a liability on the balance sheet against Corporation tax.

I would of thought this was a regular requirement but I have trawled the internet to no avail.

Any help greatly appreciated.

BG

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Wella


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Hi BG and welcome to the forum

Haven't done this myself but the following is a cut down version of what is on Ask Sage article 11571 (if you have a Sage login it's probably worth reading).

What they say is

1) Create 3290 CT account (Bal sheet Cap & reserves) and 2150 CT liability account (Bal sheet current liabilities) then journal the following

2) Dr 3290 and Cr 2150 with CT amount

To move it to the P&L, set date to last day of financial year and Cr 3290 and Dr 3200

in all cases use T9 tax code

Not sure how that presents itself on the reports but that is Sage's way to deal with it

HTH
Bill



-- Edited by Wella on Saturday 27th of November 2010 10:25:59 AM

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