I am the sole director of my company and wish to pay myself a lump sum into Super. Which account should I use to code this? Superannuation Payable? And is this an expense account? What is the tax code? TIA.
I code it as an expense but only a very small amount for the sole proprietor. A lump sum I think would be better coded as drawings or something similar for tax purposes even though he it may not be taxable at this point in time