MYLEDGERTax preparation & working papers
Division 7A loans and calculator
Track Division 7A loan accounts, calculate minimum repayments per year with the benchmark rate and carry balances forward.
The problem it solves
Getting Division 7A wrong can result in a deemed dividend for the shareholder.
How it works
- Record the loan accounts.
- Calculate minimum repayments for the year.
- Carry balances forward.
What your practice gets
- Minimum repayments calculated.
- Balances carried forward.
- Linked to ledger loans.
Watch it in the product
A short recording of division 7a loans and calculator in use.
Questions accountants ask
Does it use the benchmark rate?
Yes. Check the current rate published by the ATO.
Does it carry forward?
Yes.
Is there a tutorial?
Yes, see the Division 7A tutorial.
Related features
Features that work alongside division 7a loans and calculator.
Working papers hub
One tabbed page per client for year-end schedules: checklist, GST, tax return labels, depreciation, amortisation, Division 7A, FBT, investment income, distributions, franking, dividends, SMSF and more.
VideoDivision 7A results from FEDIX
Use Division 7A calculation results from the FEDIX calculator in MYLEDGER working papers.
FBT working paper
Record fringe benefits, scan transactions for likely FBT items and work through the FBT year.
VideoFranking account and dividends
Track the franking account balance and dividends declared each year, including ATO payment receipts.
VideoTrust distributions
Allocate trust net income to beneficiaries and post or unpost the distribution journals.
VideoPartnership distributions
Split partnership net income between partners and post or unpost the journals.
VideoSee 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.
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