Forum Discussion

TaniaDSM's avatar
TaniaDSM
Member
8 months ago

TFN Tax Withheld

We have had tfn tax withheld from interest earned on a term deposit. I need to create a tfn tax withheld account to record this. Just checking this should be in assests and not in liabilities?
Isaiah_C's avatar
Isaiah_C
MYOB Moderator
8 months ago

Hi TaniaDSM,

 

Good question you've got there! Hopefully one of the legends in the forum can jump in and share how they've set it up in their own file. If no one's got an answer that fits, it'd be best to have a quick yarn with your accountant or bookkeeper. They'll be able to point you in the right spot so it's set up correctly from the get-go. 

 

Regards,

Sai

Looking for something else?

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

Community home

Level up your skills using MYOB software.

 

Find help guides and technical solutions for all MYOB products here

Explore video tutorials for our software at the MYOB Academy here

 

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