Insurance Claim Received in Bank Feed
Ive received an insurance claim where the insurer has taken out the excess amount together with the Input Tax Credit. How do I process the transaction so that I can claim back the Input Tac Cre...
Forum Discussion
Hi karenlee11,
My apologies for the late response. That's a tricky one! Because this involves how an insurance claim, the Input Tax Credit (ITC), and your BAS interact. For an accurate answer, please reach out to your accountant or a registered BAS agent. They can confirm the right accounts and tax codes.
Regards,
Earl
