In which account we need to allocate tax return payment??
For our company, we recently lodged a tax return with ATO and did the payment from normal bank account. now we have a transaction in bank reconciliation through MYOB bank feed now I am very confused in which account we need to reconcile these transactions. Can anyone please help me with this ?? Thanks
Generally speaking, if you were unsure as to which account to allocate a transaction to, this is something you would need to check with your accountant. They would be able to advise you of the appropriate account for this transaction to be allocated to