Novated Lease
Has anyone had success with setting up a Novated lease in MYOB. All of their help is geared around Flare but I am not using Flare for the lease. Its an electric vehicle and hence I can generrate GS...
Forum Discussion
We have set this up in MYOB however end up with a balancing issue in the novated lease liability account.
For example:
As you can see, we are left with a credit of $80 in the novated lease liability account after the pay run in which we deduct the pre/post-tax lease payments from the employee as instructed from the lease company. I realize that some of the novated post tax contribution should include a GST component which we may have to manually adjust for outside of the pay run as MYOB does not appear to allow for us to recognize this within the pay run. However, the issue with the $80 credit in the novated lease liability remains.
Does anyone have the same issue?
Thanks
May
