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kb33087's avatar
kb33087
Contributing Partner
2 years ago

Benefits Transferred in on SMSF show as Unallocated Income in Statement of Financial Position

Hi 

Has anyone got a solution to this issue. This is the SMSF first year of operation. The unallocation of the benefit transferred in also affects my Balance Sheet.

 

Thanks in advance for any assistance

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  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    2 years ago

    Hi kb33087 

    Thanks for posting. 

    Generally speaking, SMSF is a liability. If it is allocated incorrectly this might be the cause of the imbalance on your balance sheet. 

     

    Please send me a private message containing screenshots of the said transaction and also some reports that show incorrect figures.

     

    Best regards 

    Genreve.