Forum Discussion

JustMichaela's avatar
JustMichaela
Experienced Cover User
2 years ago
Solved

ATO Tax Refund for Sole Trader

Hello Community,

 

Hope you are all well.  Could someone help me with the correct way I should "Receive Money" for a refund my boss received this year?

 

I want to make sure the account it is distributed to is the right one before I complete my week's reconciliation.  So this is slightly time sensitive.

 

I thank you in advance for your time and assistance.

 

 

P.S. I note we have bold and underline in our Community Forum, however Myob still hasn't put this in the area where we enter invoices...

ATO
Refund
sole trader
tax
  • ChrisMYOB's avatar
    ChrisMYOB
    2 years ago

    Hello JustMichaela 

     

    Thank you for your question. 

    You would use the Banking command centre > Receive Money to enter the refund amount. 

    If this is a refund from your BAS you will be able to follow this Help Article on Recording your ATO payment or credit which contains a table with examples on how to enter it. 

    Otherwise, you will need to speak to your financial advisor about the best way to enter it for your business.

1 Reply

Sort By
Replies have been turned off for this discussion
  • ChrisMYOB's avatar
    ChrisMYOB
    Former Staff
    2 years ago

    Hello JustMichaela 

     

    Thank you for your question. 

    You would use the Banking command centre > Receive Money to enter the refund amount. 

    If this is a refund from your BAS you will be able to follow this Help Article on Recording your ATO payment or credit which contains a table with examples on how to enter it. 

    Otherwise, you will need to speak to your financial advisor about the best way to enter it for your business.