Overview
In Troika versions 2.08.018 on, there is a new option within Estates, to post Asset Income as either net or gross. To accommodate this, users are able to select a tax nominal for each asset type.
If a tax nominal has not been set, the following warning message will appear when attempting to post asset income:
Tax nominal default has not been set up.
Solution
Within the Utilities module, the Database tab access the menu option Asset/Liability Categories. In the event you do not have access to this menu option, contact your in house Troika system administrator.
For each Category where the Type begins with IHT, select a Tax code from the drop down list in the bottom right hand corner.
We are also recommend reviewing the income code, as you can amend this to suit your nominal code set.
This is a system wide setting and will therefore be the same for all users, and all clients.
These notes are confirmed to be applicable from Troika release 2.08.018.