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Business Tax will automatically adjust the computation for items that it knows should be disallowed.
The following will be added or deducted from the accounting profit as appropriate to reach the taxable profit:
Depreciation
Loss on disposal of fixed assets
Entertainment
Rents received
Deposit account interest
There is one final adjustment to be made as 25% of the Motor expenses are not allowable for tax purposes.
Click on the + next to Disallowed expenses and then double click on the words 'IRIS account total' under this posting type to display the following panel.
Enter account number 267 (the account number for Motor expenses) in the Account Number field and click OK. (Note that if you do not know the number of the account you wish to use you can click on the magnifying glass to display a list of accounts available for selection).
In the panel provided select the Percentage radio button, enter 25 in the Percentage field and click OK.
On the posting menu you will now see the posting.
The postings are now complete so Close to return to the main Business Tax screen.