The Reconciliation worksheet, (schedule A) provides a comprehensive set of fields for entering income and expense reconciliation adjustment items, the values from which are integrated to the relevant labels at Item 5. It also provides access to the Depreciation Worksheet. Refer to Schedule A Reconciliation and Depreciation worksheet (d).
Worksheets are not lodged as part of the return and are for working paper purposes only.
The reconciliation adjustments reconcile operating profit or loss as shown in the profit or loss account (the accounts) with the net income or loss for purposes of the income tax return.
If the partnership has included any amounts such as exempt income or non-deductible expenses in the accounts, or has not included amounts which are assessable income or expenditure that is deductible, work out the reconciliation adjustments as detailed below.