How to Set up an asset then dispose of it

Setting Up an Asset

1. Log on to IRIS Personal Tax and select the client.

2. From the Edit menu select Capital Assets.

3. Click the Assets option on the left then click Add.

4. Enter the purchase details for the asset within this screen.

5. Click OK.
   

6. If the asset is jointly held users are required to enter 100% of the figures, IRIS will then split the figures when calculating the capital gain.

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Entering the Disposal of an Asset

1. Log on to IRIS Personal Tax and select the client.

2. From the Edit menu select Capital Assets.

3. Click the Assets option on the left, click on the asset which has been disposed of on the right then click Dispose.

4. Enter the disposal details within this screen.

5. Click Add to add the disposal details to the system then click Close.
   
   

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