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My husband is a sole trader. He has received a tax refund from the Tax Department. We didn't actually receive the money they just applied a credit to our GST.
How will I enter this into my myob. I am using Account Right Plus.
Thank you in advance
Solved! Go to Solution.
a month ago
A Sole Trader normally would not have a Ledger for Income tax Payable/Refundable.
You would do a Journal Dr ATO ICA/GST Clearing Cr Drawings
Let us know how you go.