Overview
Enter ATO Interest, GIC, and fines and penalties with ease by posting to the 85000. Simple Fund 360 will post the amounts automatically to the relevant accounts.
Navigation
| From the Main Toolbar, go to Accounting |
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| Select Transactions |
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Instructions
Click .
Then select Bank Statement.
On the new transaction screen, select the 85000 account, then enter the total amount in either the debit or credit field.
Once an amount has been entered, click to open the 'more details' section, then scroll down to view.
Enter the ATO Interest into the ATO Interest Received field.
Enter the ATO GIC into the ATO Interest Paid field.
Enter any fines or penalties received into the Fines & Penalties field.
Which Accounts does Simple Fund 360 post to?
The following accounts will be posted to
| Payment Type | Account Code | Account Name | Further Help |
|---|---|---|---|
| ATO Interest Received | 25100 | Interest Received ATO General Interest Charge | |
| ATO Supervisory Levy | 30400 | ATO Supervisory Levy | |
| ATO Interest Paid - GIC | 37700 | Interest Paid - ATO General Interest | |
| Fines & Penalties | 38200 | Fines | |
| Under / Over provision for income tax | 48600 | Prior years Under / Over provision for income tax | |
| PAYG Installments / ATO Tax Payments / ATO Tax Refunds | 85000 | Income Tax Payable/Refundable | PAYG Tax Instalments |