Record Tax - Part Payment
Hi have not long worked for a company and they have been paying off a tax debt from a couple of years ago, the previous bookkeeper was recording payments in Liabilty - Ato payment. I have just receiv...
Forum Discussion
It sounds like all the payments to the ATO have been recorded but not the actual BAS and IAS amounts.
Your books are showing the ATO owes you $61,900.00 if it says -$61,900.00.
I would have a look at what year your books are showing as the current financial year, and if the books have had adjustments done for latest tax return done by the Tax Accountant.
Once your figures agree with the Accountants for latest financials, you can then recod all the BAS/IAS entries for lodgements after that date and then start reconciling the Integrated Client Account from the ATO, same as you do with the bank and credit card accounts.
