Insurance Excess

Question

Hi all,

We have an insurance job that is coming up to our office building and we have to pay the excess for the work to begin.

What is the best way to record that in MYOB as a spend money transaction.

Thanks heaps

Mon  :smileyhappy:

monsta76 · Answer

Thank you. Thats what I was thinking also.

LRBooks61 · Answer

Hi

i would just record it under insurance expense. If you want to isolate it you could set up an insurance excess expense code, excess is generally gst free so code as FRE

hope that helps

Lisa