How to Record super rollover from Industry fund to smsf in accountright

Question

Hi There,&nbsp;We rolled over super from industry super fund into our smsf.&nbsp; Super already taxed in industry fund. How do we record this in myob accountright.&nbsp; Creating an asset account with opening balance and transferring to bank account is ok?&nbsp;&nbsp;&nbsp;Accumulating historical balance this way in equity part of BS acceptable? Is there any better way of doing this?&nbsp;Thanks in advance.

tracey_h · Answer

Hi&nbsp;KevinR&nbsp;
&nbsp;
Sorry to see that no one has replied to you yet. As we're not accountants we're not permitted to advise on how this should be recorded, as such, you would need to check with your accountant.
&nbsp;
Please don't hesitate to post again if you need help in the future.
&nbsp;
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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How to Record super rollover from Industry fund to smsf in accountright

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