CMN.ATO.CTR.430021 - Check depreciation expenses or deduction for decline in value of depreciating
Solution:
You will need to turn on depreciation and report all relevant depreciable facts.
LodgeiT relies on the reported depreciable facts and adjusts out the accounting facts.
Note, we suggest to avoid keying the data (Manual input), instead use our direct Excel Import or Import your financial from an Accounting Software to LodgeiT.
Add back the accounting depreciation and less the tax depreciation
1. Click "Reconciliation"
2. Add $ 33,339 to "Non Deductible expenses" (W)
Related Article: