The reconciliation section of a tax return allows the accounting income to be reconciled to the taxable income. The reason for this is that certain income items may not be assessable or the amounts may differ. Similarly, with expenses, some accounting amounts may not be deductible or amounts may differ.
Understanding the Reconciliation Section
The reconciliation section will only be relevant if you've imported financial statements.
LodgeiT forms are optimised for autofill from downstream accounting systems, not manual fill processes.
LodgeiT Reconciliation demonstrates how tax facts are arrived at from accounting facts.
To adjust and reconcile, add a line item under "Income" tab
It will automatically show up in "Reconciliation" tab
For SBE, click here - Simplified Depreciation Rules "Depreciation Expenses on Accounts"
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