How to enter PAYG Income Tax Instalment in a first year fund for the prior year?
Class does not support business events prior to the fund Book Closed Date.
Navigating to Fund Level > Load Opening Balance > Fund Opening Position
- Click on Tax Position tab
- Reconcile the Income Tax Payable field to include the PAYG instalment
- Add the PAYG instalment in the PAYG payable field
- Click on Submit to update the change
- Check the member balance by clicking on "Review" to ensure fund opening position balances.
If the June PAYG Instalment has not been accrued in prior year, refer to knowledge base article How to adjust the Income Tax Payable account or the Income Tax Instalment account in the current financial year