How do I record a payment to ASIC?

Question

Hi all, I am relatively new to ReckonOne & still finding my way around! I recorded the annual payment to ASIC as Government Charges, but shows up as non-current asset, which sound wrong to me! How should I record this payment, or should I create a new expense account called something like "ASIC fees"?

Thanks heaps in advance!

sandJohnson · Accepted Answer

I got my answer by using the Live Chat bot in Reckon One :-) Essentially there is no pre-defined account, so I will create an expense account called something along the lines of "ASIC Fees", instead of using the "Government charges" account which is a non-current asset account & definitely not suitable!