ATO payment plan

Hi

Thank you for reply, when I click on post, access denied comes up.

Thanks

Hi

what I suggest you do is post a journal of the BAS transaction payment required as you normally would do

the total of the payment amount will then be posted to a liability account which you can create called ATO intergrated client account 

Eg BAS  gst col 5300 gst paid 3200 PAYG payable 8770 Total BAS = 10870. All should be N-T tax code ( all these accounts are liability accounts 2-xxxx)

gst collected DR 5300

gst paid                           CR 3200

payg payable DR 8770

ato client.                        CR 10870

totals.            14070.            1470

then when the payments are made you code them to the ato client account

hope this helps

Lisa

Hi Chezlea 

Thanks for your post. Generally speaking you'd set up an Integrated client account in your software to record the amount owing and the repayments.

This post has more information on Integrated client accounts, however, I'd recommend speaking to your accountant about how to set this up to ensure it's reported correctly.

Please let me know if you need further help.

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