Bad debts
This is used to report details of Bad debts included within the accounts and to calculate the tax adjustment arising.
This is located at Trading Income,Trade Name, Bad Debts
The Description - General and Specific are automatically generated.
In the first AP Enter the amount B/fwd from the previous AP. In subsequent APs this will be taken from the C/fwd value in the previous AP.
Enter the amount Per accounts
Enter the amount Utilised - this will be reflected in the tax adjustment for general bad debts
Enter any Other movement. This will not effect the tax adjustment
The Cfwd amount is Automatically calculated
The Tax adjustment amount is Automatically calculated. This is shown as an adjustment to the trading profit/loss in the tax computation.
One data entry is permissible for each type of bad debt.
The Tax adjustment is included within the Balance sheet adjustment figure in the Trade Summary window.