Weekly instalments were made to ATO to ensure that there was adequate funds available for BAS lodgement. What account should I post/record these in? A liability account?

Hi Kayjayach,

Thanks for your enquiry.

Unfortunately I cannot answer this question directly as I am not an accountant or tax advisor and am not qualified to give you this advice.

I would encourage you to reach out to your accountant and ask this questions to them to find out the best course of action to take for you and your business.

If you do not have an accountant, I suggest visiting our website where you can link up with one of our ProAdvisors who will be able to help you out with this.

To find a ProAdvisor, visit our website via this link - https://quickbooks.intuit.com/au/find-a-proadvisor/

I hope you get the correct answers to your questions.

Kristian.