Forum Discussion

MaryHa's avatar
MaryHa
Experienced User
3 months ago

How to Record a Non-Deductible Payment made from Bank account?

Hi our company has paid a driving fine for one of our employees (as it was incurred during the time they were on the job). How do I record it to show that the money has been paid from the bank a...
BestView's avatar
BestView

Separate Profit and Loss?  does that mean we have to pay for another MYOB license as we only get one P&L , am i missing something , did you mean a separate Cost centre under expenses that can be identified when preparing a tax return 

TezzaB's avatar
TezzaB
Trusted User
30 days ago

Just add a new expense account in your chart of accounts.  My reference to P&L imeans that its an account that rolls up in your P&L as an expense as opposed to being on the balance sheet.  

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