How do I reflect PAYG tax in Reckon One as a sole trader?

davkell
davkell Member Posts: 27
edited August 2019 in Reckon One
As a sole trader just completing my first year, I now have a PAYG tax bill due based on the $Net financial results for the year, and will be then required to pay quarterly PAYG. How do I reflect these withdrawals from my account? Do I just withdraw as 'Drawings' the same way I do when pulling out net profit as personal income?

Comments

  • Michael Corrigan_9203178
    Michael Corrigan_9203178 Member Posts: 70
    edited August 2017
    Yes it is just drawings and not an expense of the business
  • davkell
    davkell Member Posts: 27
    edited August 2017
    Awesome. Thank you. 18months down and now I think I'm 100% on top of Reckon and business records. Cheers.
  • davkell
    davkell Member Posts: 27
    edited August 2017
    Thanks for that Kevin. Never thought about it before. I'm pretty much on top of what is required now for this business, it's not too complicated fortunately, but I will check out the certificate anyhow, might be interesting to keep the brain functioning. Cheers.