recording a tax payable adjustment

Julie Dinsdale

Hello everyone,

After taking over from a lady, I had to put two amended activity statements in. We received a refund into our bank account from the ATO. I put in a credit against the ATO, supplier, to the Tax Payable Liability account. I then did a 'record deposit' against the accounts payable account, against the ATO. When running a balance sheet and checking the Tax Payable Liabilty account, it has credited it, therefore shows an increase in the Tax Payable account. I did it to be a decrease, not an increase.

Can anyone help please.

Kindest regards Jules

Acctd4