We are a small business with no employees entitled to JobKeeper but we are entitled to the JobKeeper payment under a small business/sole trader entitlement. We have received our first payment last week but I am now not sure how to record this in manager.
It is not an income, it’s not an expense, it’s similar to (but not) capital investment from a director ie, not income and subject to those taxes, plus there’s the whole reporting side. Which I’m still trying to decipher in the other thread.
My question for right now is, how do I record this entry into manager and have it filed away correctly so that it’s not misrepresented in any ATO reports?
I’m guessing there’s a new account to be created for this type of payment?
Edit: I did search and there were only two other threads that came up on mobile and neither dealt with entering the JobKeeper payment when it’s not related directly to an employee as I understand it