Forum Discussion
DuncanS
5 months agoUltimate Partner
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
Looking for something else?
Search the Community Forum for answers or find your topic and get the conversation started!
Find technical support and help for all MYOB products in our online help centre
Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.