Hows to deal with this? completing online accounts on HMRC

jayjay

Hi
I'm having a technical problem whilst completing online accounts on HMRC: on balance sheet box AC62 Total assets less current liabilities which showed 'Error: this field can not have negative number'.
It's make a loss therefore after enter the 'creditor' figures the formula in the calculator fields will completed the calculation for you and result in box AC62 negative number!!!.
Hows to deal with this?
Thank you in advance for you help & time.

NeilH

Hi

Is it a figure further up the return perhaps? In order for the value to become negative, the current liabilities would have to be larger than the total assets. Are you including the loss as a figure in the assets? Can you explain with some numbers?

jayjay

Hi NeilH
Thank you for your response. The liabilities are more than the assets which incurred a loss and results in a negative figure. However the form (box AC62) doesn't accept a negative number and this causes the 'Error:this field can not have negative number'.

Box AC62 can not be entered manually and is calculated for you.

I hope that's more clear. Thank you for your time.

NeilH

How is the loss being reflected in an asset or a loss? Is it being pulled through from the P&L? Can you show with some values?

jayjay

On balance sheet:' figures entered as positive values, the formula in the calculated fields will complete the calculation for you, please enter data in whole pounds'.

I entered the following figures;

Tangible Assets: 3,521
Current Assets: 4,711
box AC58 (Creditors): 20,252

This should result in a negative number in box AC60: Net Current Asset (Liabilities).
However I received this message, 'Error: This field can not have a negative number'.

As a result I cannot proceed to the next step.

What's do I have to do? The company has more creditors than assets, so this box needs to be a negative, but the form will not allow me to manually enter a negative number and the formula calculates a negative figure which results in an error.

Thank you in advance for your help.

Buhir_the_Bookkeeper

Hi

can you confirm what tax return you are completing is it SA or Corp tax or something else and what part of the return box ac62 can be found on?

Thanks

NeilH

I've heard of errors like this, but not had them myself. Looks like a call to HMRC might be in order...

jayjay

Hi Thank you for all responses. Yes, this is completing online service accounts and company tax return on HMRC. I'll keep calling the helpdesk until get through - thanks.