MYLEDGERTax preparation & working papers
Book-to-tax reconciliation
A book-to-tax working paper for each year that bridges accounting profit to taxable income.
The problem it solves
The adjustments between accounting profit and taxable income need to be documented.
How it works
- Open the reconciliation for the year.
- Record book-to-tax adjustments.
- Review the bridge to taxable income.
What your practice gets
- A documented bridge.
- Per financial year.
- Supports review.
Questions accountants ask
What does it show?
Accounting profit, the adjustments and taxable income.
Is it per year?
Yes.
Is there a guide?
Yes, see the taxable income reconciliation feature guide.
Related features
Features that work alongside book-to-tax reconciliation.
Tax return label report
Map the ledger to ATO tax return labels with drill-down, so return figures trace back to transactions.
VideoYear-end tax checklist
An entity-specific tax checklist for each year, with attachments, reset and a follow-up email to the client.
Depreciation register
An asset register with ATO effective-life rates, calculations, roll-forward to the next year, opening balances and journals you can post or undo.
Depreciation reconciliation
Reconcile the depreciation register to the ledger and work out the tax adjustment.
ATO effective life lookup
Search ATO effective life by industry and asset to choose the right depreciation rate.
Borrowing costs schedule
A schedule for loan establishment costs deducted over time under section 25-25.
See it working in your practice.
Start with one workflow and adopt more of the connected practice system over time. Your team reviews and approves the work.
14-day free trial. A payment method is required to start. Your paid subscription starts automatically when the 14 days end; cancel during the trial and you pay nothing. After the trial, a 6-month minimum term applies, then month-to-month. Commit to 12 months up front and the monthly price is 20% lower. See pricing.