MYLEDGER Accounting preparation
Tax preparation & working papers
Year-end schedules in one place per entity: tax return labels from the ledger, book-to-tax reconciliation, checklists, depreciation, Division 7A, FBT, franking, distributions, SMSF allocation and benchmarks.
Who it is for
Tax accountants preparing year-end working papers for individuals, companies, trusts, partnerships and SMSFs.
Features in Tax preparation & working papers
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.
VideoTax return label report
Map the ledger to ATO tax return labels with drill-down, so return figures trace back to transactions.
VideoBook-to-tax reconciliation
A book-to-tax working paper for each year that bridges accounting profit to taxable income.
Year-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.
Blackhole expenditure schedule
A schedule for business-related capital costs deductible over time under section 40-880.
Investment income register
A register of interest, dividends and distributions for the tax return's investment income schedule.
VideoDivision 7A loans and calculator
Track Division 7A loan accounts, calculate minimum repayments per year with the benchmark rate and carry balances forward.
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.
VideoSMSF member allocation
Allocate the fund's result across members, with checks including pension minimums.
VideoIndividual tax estimate
Estimate tax payable for resident individuals in working papers and tools.
ATO small business benchmarks
Compare a client's ratios with published ATO small business benchmarks for their industry, with risk indicators and trends.
More from MYLEDGER
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.