How do I reflect PAYG tax in Reckon One as a sole trader?
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davkell
Member Posts: 27 ✭
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?
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Comments
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Yes it is just drawings and not an expense of the business1
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Awesome. Thank you. 18months down and now I think I'm 100% on top of Reckon and business records. Cheers.0
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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.0
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