Managing Imputation Credits Account
Darran
Member Posts: 20 Reckoner
Hi all, going through a process of tidying up a few years of data and have a question that I've not been able to find a clear solution for. What transactions do users post to clear out / reduce the ever growing balance in the Imputation Credit account.
As each dividend cycle comes around, PP2020 applies an imputation credit to the Imputation Account, but when each tax refund comes around, I never know how to clear out the balance. Appreciate any assistance in what entries should be written.
Thanks in advance.
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Comments
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I use retained earnings for this type of thing. I do a journal when the accountant has finished the financials and bring my balance sheet into line with his/hers. But I use Reckon Hosted, not Personal.
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