PAYG Witholding Payment

AmyRowe
AmyRowe Member Posts: 2 Novice Member Novice Member
edited November 2024 in Reckon Payroll

Hi, I am primarily using Reckon one for payroll but would like to also manually reconcile my bank account. As such, I am attempting to input a "make payment" to account for PAYG Witholding tax I have just paid out of the bank account. When I go to allocate the transaction to an account through the make a payment option, I have selected "Payroll liabilities: PAYG WItholding Payable" but I am unsure of which Tax Code to use or how I would account for this payment?

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 3,814 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    no tax code and it will go to the PAYG liabilities account

  • AmyRowe
    AmyRowe Member Posts: 2 Novice Member Novice Member

    Thank you, Kris. I am quite new to accounting software so just to double check I am in the make payment section I have selected payable type - accounts payable and added the ATO as a supplier. I then allocate the transaction to PAYG liabilities account and leave the tax code section and just input the amount?

  • Kris_Williams
    Kris_Williams Member Posts: 3,814 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited November 2024

    When you go to Suppliers - tax activities - pay tax The bank account will be your bank, it will have the supplier name already there and the account will be PAYG liabilities account

    I have just realised that you are using Reckon One, these are Hosted instructions so Iā€™m not sure how similar the process will be.

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