Legal Trust Payments

crankins

Hi, I have entered some payments to a Legal Trust as cheque payments (GST Free). I now realise that I should have set up a Clearing account to process and reconcile these.

Some of the payments are from a previous year, what is the best way to correct these payments, and claim GST

Thanks, Cheryl

Kris_Williams

I don’t know about the reconciling portion without further information but you could do a journal in this current quarter crediting the expenses using NCF and debiting the same using NCG. Happy for you to call if you need anything

0415 940843