How to process PAYG Tax and Tax Payable on a single cheque in QuickBooks
Legacy KB ID: 1867
Question
How do I process my PAYG Tax and Tax Payable on a single cheque in Reckon Accounts?
Answer
In order to process a payment for your PAYG Tax and Tax Payable on a single cheque, follow the steps below:
- From the Employees menu, select Payroll Taxes and Liabilities > Create Custom Liability Payments
- Select the date range for the period you are writing the liability cheque for
- Click OK
- Make sure the Review liability cheque to enter expenses/penalties option is selected
- Place a tick next to the liability you wish to pay i.e. PAYG Tax
- Click Create
- The Liability Cheque window will appear with the amount appearing in the Payroll Liabilities tab
- Click on the Expenses tab to enter your Tax Payable amount
- Select your Tax Payable account from the drop down menu and enter the amount. Note: The default tax agency (Australian Taxation Office) will appear in the Customer:Job column.
- Click the Recalculate button to balance the amount
- Click Save and Close
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