How do I process JobKeeper subsidy receipt as ATO funds showing in bank account
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Alison Moses
Member Posts: 8 ✭
How do I process JobKeeper subsidy receipt using Reckon Accounts Premier as ATO funds showing in our bank account? Thanks
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I am making a heading Other Income account for clients - which I am calling Covid Stimulus payments.. then two sub accounts - one for Cashflow Boost (which is not taxable) and one for JobKeeper payments (which is taxable).
Record the funds received from the ATO using Make Deposits to these accounts...0 -
Ok thanks Linda, I had set up an Other Income account but wasn't sure whether to just process it as "Deposit" or if there was another way I should be doing it. Many thanks :-)
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My understanding was that only Jobkeeper top up is taxable
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Tania - ALL funds received through JobKeeper are taxable to the business... only the Cashflow Boost is not taxable...0
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