This is my first year using BGL360 for my SMSF. I am about to create the year end entries.
For several reasons, the software will not create the correct amount of tax provision/refund once I initiate Create.
- The opening entries at 12/7/20 did not record the date of historical cost so BGL can’t calculate the correct CGT discount
- I find I am unable to enter the correct year-end tax info for Aust listed trusts
- Chicken and egg. I can’t finalise until I get the actuary’s report. I can only estimate the ECPI exemption
What I would like to do if possible is either override BGL’s tax calculation and instead create a journal entry myself Dr tax Cr Provision for tax, OR create a journal entry to adjust the tax provision to the correct amount, which I can calculate once I get the actuary’s certificate.