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veeja's avatar
veeja
Member
3 years ago

Partnership tax return and reconciliation of Cents per KM method

Hi, My partnership is claiming Motor Vehicle expenses with the "Cents per kilometer" method. Since I don’t have the Cents per KM method on my MYOB Profit and Loss, do I account for this is the reconc...
Tracey_H's avatar
Tracey_H
Former Staff
3 years ago

Hi veeja 

 

Thanks for your post. I'd recommend speaking to your accountant about the applicable transaction, accounts and tax codes to ensure that expense is correctly reported.

 

Once you know what you need to record I'll be happy with how to record that in your software.

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

veeja's avatar
veeja
Member
3 years ago

I was hoping for a bit more direction as I dont use an accountant for my business.

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