How to record an Expense as Non Tax-Deductible for Trusts/Companies?

Solution

From the Main Toolbar, go to Compliance.
Select Period Compliance.

Select Tax Labels

The Tax Labels screen will display, listing current year accounts that have a balance processed within the financial year. 

From here, users can attach the relevant Tax Label and Secondary Labels to the sub-account or normal account. Select from the drop-down list the most appropriate label corresponding to the Trust Tax Return.

Transactions to Default expenses accounts where the Tax Label is set as Other and the Secondary Tax Label set as Non-Deductible will  be calculated as non deductible in the tax return. 

Note: Tax Labels only apply to Trusts and Companies. For more information, see: 

• Tax Labels for Trusts
• Tax Labels for Companies