Customer feedback & Ideas for IRIS

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Prior Year P&L Reserve

In the current year account we sometime do the prior year's adjustment which may result in modification in the prior year P&L reserve account. It is a statutory requirement to have a prior year reserve account in the trail balance for a reporting account. But Taxfiler do not have it. I therefore had to select a wrong account "Transfer to capital redemption reserve" to finalise my account. It is a statutory requirement to show P&L reserve in the reporting account in the correct category.

  • Faizul Hoque
  • Feb 23 2022
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