I am the sole Director of my company and have received JobKeeper. Please could you let me know the most simple way of 1. Coding the JobKeeper payment received from the ATO; and 1. How I code it when paying to my personal bank account?
You need to make a new account for the receipt of the Jobkeeper allowance in the income section. This has no GST code and does not need to be added to your BAS.
Payments to your self can be done two ways:-
1. as a salary to yourself and as a STP in the payroll 2. as a directors fee or salary. For this you will also need to make a new account in the expense section. This account also has no GST code as it does not need to be added to your BAS.
I just coded it to JobKeeper reimbursements account. Then if the single director takes the /part of money it will go to his drawings and be included in his tax return. It he doesn't take any it will just be business income and subject to the business tax