Separate Accounts

[KK28]

Hi 

When our accounts were set up, Superannuation Payable and PAYG Witholding Tax were assigned the same account number. EG 2-1410

We need to separate these however I have no idea how to do this. 

Do I 'retire' the original account assignation and then create two new accounts: one for super payable and one for PAYG withholding tax?

Seeking guidance please on how to go about this. 

Many thanks

[Princess_R]

Hi @KK28 

Thank you for your post. I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.

As we're not an accountant, we're not permitted to provide financial advise. It would be best to speak to your accountant on creating accounts. And as for your concern, if you will be creating a new separate account for each, you can only link one for your payroll deductions. Kindly see the sample screenshot below, we can only linked one account for default tax/deductions payable accounts for payroll.

Please feel free to post again and I'll be happy to assist.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,

Princess