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Benefits Transferred in on SMSF show as Unallocated Income in Statement of Financial Position

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kb33087
Contributing Partner
10 Posts
Contributing Partner
Australia
Contributing Partner

10Posts

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Benefits Transferred in on SMSF show as Unallocated Income in Statement of Financial Position

Hi 

Has anyone got a solution to this issue. This is the SMSF first year of operation. The unallocation of the benefit transferred in also affects my Balance Sheet.

 

Thanks in advance for any assistance

1 REPLY 1
Genreve_S
MYOB Moderator
1,797 Posts
MYOB Moderator
MYOB Moderator

1,797Posts

52Kudos

187Solutions

Re: Benefits Transferred in on SMSF show as Unallocated Income in Statement of Financial Position

Hi @kb33087 

Thanks for posting. 

Generally speaking, SMSF is a liability. If it is allocated incorrectly this might be the cause of the imbalance on your balance sheet. 

 

Please send me a private message containing screenshots of the said transaction and also some reports that show incorrect figures.

 

Best regards 

Genreve.

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