I have 2 companies that I need to track GST on and only one Tax Control Account, is there a way of adding an additional Tax Control Account
Hi @ktapscott2372
Are they 2 businesses under the same ABN or do they have different ABNs ?
Hi, they are 2 different businesses, each with their own ABN
In that case, they need to be set up as 2 separate company files as each will have its own, independent reporting obligations.
I do have a file that consists of 2 different entities and I am able to extract the GST amounts by a modified tax summary. I only have one tax payable account and I always reconcile the balance of that account with o/s customers and suppliers
@ktapscott2372 Please confirm which program you're actually using because I have you using Home & Business, is this correct,
Yes, I am using Home & Business V31
@ktapscott2372 now back to your original question no. As far as I know, you cannot have two tax control accounts I know we'll look into it to see if there's some way we can get around it.
