Balance Sheet not showing Tax Liabilities

AccountsFire

A Sole Trader will normally not have a Income Tax Payable Ledger.

PAYG - I may have been paid during a FY.

The PAYG - I is cleared once the Tax Return has been lodged.

With a Company, the Tax Agent will calculate the Income Tax Payable amount.

This should appear as a Current Liability.

Check that the Income Tax Payable agrees with the Calculation Statement in the Company Tax Return.

Duncan

Hi Shella

Unfortunately, this did not make a difference, I still have no breakdown on the report

Hi AccountsFire

Your balance sheet might not show tax liabilities breakdown for various reasons. I ran the same report, and it worked fine for me. Try logging out, clearing your AccountRight cache, and logging back in. This usually fixes such issues. Let me know if you still need help!

Kind regards,

Shella