How do I reflect PAYG tax in Reckon One as a sole trader?

davkelldavkell Member Posts: 34
edited August 2019 in Reckon One
As a sole trader just completing my first year, I now have a PAYG tax bill due based on the $Net financial results for the year, and will be then required to pay quarterly PAYG. How do I reflect these withdrawals from my account? Do I just withdraw as 'Drawings' the same way I do when pulling out net profit as personal income?

Comments

  • ZappyZappy Accredited Partner Posts: 4,428 ✭✭✭
    edited August 2019
    Yes
  • Michael CorriganMichael Corrigan Member Posts: 70
    edited August 2017
    Yes it is just drawings and not an expense of the business
  • davkelldavkell Member Posts: 34
    edited August 2017
    Awesome. Thank you. 18months down and now I think I'm 100% on top of Reckon and business records. Cheers.
  • ZappyZappy Accredited Partner Posts: 4,428 ✭✭✭
    edited August 2019
    Maybe if you undertook the Cert IV in bookkeeping it could move things along a bit. Just a suggestion. The course I did used myob but Im sure some of the Insts use Reckon.
  • davkelldavkell Member Posts: 34
    edited August 2017
    Thanks for that Kevin. Never thought about it before. I'm pretty much on top of what is required now for this business, it's not too complicated fortunately, but I will check out the certificate anyhow, might be interesting to keep the brain functioning. Cheers.
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