How do I

How do I… Post a PAYG payment?

This section assumes your Fund pays PAYG separately and it is NOT included in a BAS return summarizing GST payments and credits.

If your Fund is required to pay Pay As You Go taxes, the payments should be entered as an expense to account 2-1101 Income Tax PAYG Instalments Paid.

Post a PAYG payment

If using Bank Data Feeds, simply select PAYG payment from the Expenses category.

Post PAYG payment via bank data feed

Payments will then be correctly taken into account in calculating your end of year tax obligations.

 


about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding.
Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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