ContributionsMost RecentMost LikesSolutionsRe: Entries to show increase in land value @ LynneNz I understand a private company does not need to Mark to Market. It may well be prudent to do so. As Genreve said, please talk to your Tax Accountant. Duncan Re: Technology Boost @ roxmully @ Shella_A I understand the Technology Boost was for expenditure incurred between 29 March 2022 and 30 June 2023 Thus, by default, the 2024 Tax Returns will not have a box for the Technology Boost. I did not enter the Technology Boost into MYOB and it was claimed in the 2022 and 2023 Tax Returns. Duncan Re: Charging for travel. Dizzyswinger@ Princess_R Every Business Owner decides what their Income Streams are and how they will track them. I work with a Printing Franchisee and the Franchisor has some 28 Income Accounts. Would create a Income Account called Travel Recovered from Clients. Let us know. Duncan Re: Newbie Sole Trader - do I create Pay Runs? shortwaistMike_James Create an Equity Account called Owners Drawings (coded N-T). Contact me if you wish. Duncan Re: which category should I select about the super transaction qhal11700Genreve_S I understand the Super Fund would have been informed of the nature of the Payment ie Concessional or Non-Concessional. It is also possible to lodge a Notice of Intent. Totally agree with Genreve that Financial Advice cannot be given on this Forum. Best to speak with your Tax Accountant/BAS Agent. Duncan Re: EOFY Payments Wendy1234@ Genreve_S A big problem. The Banks could/should have warned that transactions on 29 and 30 June would show on 01 July. MYOB may wish to also warn Business Owners to limit transactions on the last 2 days of a FY. Duncan Re: Process a payment received for a written off bad debt @ DFrost1 I would raise a Tax Invoice in the current Period (being in the same FY as the write off) and apply the Payment. Duncan Re: How to treat rent payment in bank feed SalBasky@ KellyKellyProp Sal, Do you receive a monthly/fortnightly Statement from a Real Estate Agent? This will list the Income and Expenses for the period. I suggest talking with your Tax Accountant/BAS Agent The type of property Residential or Commercial and GST Registered affects the GST Codes used. Let me know. Duncan Re: Balance Sheet not showing Tax Liabilities AccountsFire A Sole Trader will normally not have a Income Tax Payable Ledger. PAYG - I may have been paid during a FY. The PAYG - I is cleared once the Tax Return has been lodged. With a Company, the Tax Agent will calculate the Income Tax Payable amount. This should appear as a Current Liability. Check that the Income Tax Payable agrees with the Calculation Statement in the Company Tax Return. Duncan Re: Setting up additional two-factor authentication methods AmandaCL Amanda, I recall MYOB introduced 2FA some years ago. There was various discussions with MYOB and I was told MYOB used MFA and AI to recognise the computer used. What has changed in the past month? My email confirmations stopped working some time ago. My Partner Manager informs me that she cannot help with Technical Support. Is that correct? Duncan