Hi I need to enter our prepaid Director Income installments for (tax payment in advance) How would you recommen I enter in MYOB - currently I have it entered as a liablilty account ? I'm not confident this is correct.
Thank you
@tamaxox
I take it your Business Structure is a Company.
In a perfect world, the Director would pay their personal PAYG - I from a personal Bank Account.
If the Company does pay, then it would be a Debit to the Director's Loan.
Have a talk to the Company Tax Accountant.
Duncan
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