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Partnership - Equity Draws

 
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Tuggles43



Joined: 05 Dec 2011
Posts: 2
Location: Brisbane

PostPosted: Sat Feb 21, 2015 9:51 am    Post subject: Partnership - Equity Draws Reply with quote

Can someone advise on this.
My Accountant has informed me that if we should draw down some equity from our business and place it into Superannuation. He has informed us that if we do that we can claim the Superannuation as a deduction on the business.
Can someone please advise how I enter same into Account Right Plus?
Do I journal CR to Owners Equity Draw and DR Superannuation after paying the amount into Supernnuation?
Much thanks in anticipation.

Tuggles43
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