Forum Discussion

monsta76's avatar
monsta76
Experienced User
3 years ago

Insurance Excess

Hi all, We have an insurance job that is coming up to our office building and we have to pay the excess for the work to begin.   What is the best way to record that in MYOB as a spend money transac...
LRBooks61's avatar
LRBooks61
Ultimate Cover User
3 years ago

Hi

i would just record it under insurance expense. If you want to isolate it you could set up an insurance excess expense code, excess is generally gst free so code as FRE

 

hope that helps

 

Lisa

  • monsta76's avatar
    monsta76
    Experienced User
    3 years ago

    Thank you. Thats what I was thinking also.

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