How to enter Income tax provisions

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How to enter Income tax provisions

Hi,

 

I am just beginning in MYOB and trying to understand how I am recording Income tax provisions that I am saving for future payment. I am a sole trader non GST registererd

I have 2 bank accounts, 1 for for business transactions and 1 for the tax 

I am a bit confused with which code I should be using

 

Thanks

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MYOB Moderator
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MYOB Moderator
MYOB Moderator

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Re: How to enter Income tax provisions

Hi @Gaelle29 

 

I’d recommend speaking with your accountant over their thoughts on how to enter in this inside your file. Your accountant will be able to advise you on which accounts and any applicable tax codes to use

Regards,
Neil

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Re: How to enter Income tax provisions

Thanks - dont have an accountant as not GST registered

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MYOB Moderator
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Re: How to enter Income tax provisions

Hi @Gaelle29 

 

Questions such as which account / tax code do I use for this particular transaction are deemed financial advice questions and are beyond the scope of what MYOB Moderators can assist with on this forum.

 

If you didn’t have an accountant, I recommend reaching out to your local MYOB Advisor. As many of them are accountants and bookkeepers they will be able to provide you with financial and tax assistance.

Regards,
Neil

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