Forum Discussion

Heathrau's avatar
Heathrau
Experienced User
2 years ago

Suspense Account

Hi,

 

I am just wanting to check if this is the correct way or if you can please help me on how to do this correctly.

 

I have sold assets on the 01.01.23, one for 40k and the other 10k and it has been alocated to the suspense account. CR NT.

 

But i need to move this so that i can correclty get this in my BAS as there will be tax to pay on this as it will be classed as income as i have sold off an asset.

 

Do i manually go in and change the account change the account codes or do i do something different. If i change the account code what do i change this to? Income account ? and Call it income of sold asset?

Or what do i do a journal ?

 

thanks in advance

 

 

 

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    2 years ago

    Hi Heathrau 

     

    Thank you for your post . As we are not an Accountant we are not permitted to give advise, on this matter, I would suggest speaking to an Accountant in regards to which accounts you should be recording a transaction to. 

     

    However, I'll give you this Help Article , Recording a Journal entry for further information .

     

    Feel free to post here if you need further help. 

     

    Regards,

    Princess

     

     

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.