Sole Trader spending some domestic through business account

Chris_7194422 Member Posts: 51 ✭✭

Using Reckon Accounts it is sometimes unavoidable passing domestic expenses through the chq account. They are in an account called Domestic which is an expense account. Would this be why it shows up in Tax Reports? Should it be a different account type (equity?). I am sure that my accountant pulls these expenses out, but it would be better if they didnt appear in the tax reports.

Best Answers

  • GerryWinter
    GerryWinter Accredited Partner Posts: 1,147 Personal Range Expert Personal Range Expert
    Answer ✓

    I just call it Personal Expenses with Equity account type as you suggested. No gst .

    Gerry 0418907140 

    [email protected]

  • Kris_Williams
    Kris_Williams Member Posts: 3,197 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    Answer ✓

    No tax code at all………………