Difference between revisions of "User talk:Christopherlam"
(→Quickstart Australian BAS My account setup) |
(MYOB manage GST under the liability account) |
||
| (5 intermediate revisions by 2 users not shown) | |||
| Line 8: | Line 8: | ||
https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_account_set_up | https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_account_set_up | ||
| − | Businesses aim to make money and GST is charged on that income so it follows GST is a liability. | + | The GST parent account is not clear from the text. Businesses aim to make money and GST is charged on that income so it follows GST is a liability. Liability:GST:GST on Sales (ie tax collected) and Liability:GST:GST on Purchases (ie tax paid) shows the net result at any time. |
| + | |||
| + | ==> NO. GST paid to suppliers is an asset. I'll get it back at the next BAS. | ||
| + | |||
| + | ==> MYOB use LIABILITY the same as QuickBooks: https://wiki.gnucash.org/wiki/Alternate_Australian_GST_setup | ||
| + | Do you have a reference for any other package using Asset ''and'' Liability accounts? | ||
It would be nice to align the default Business Accounts, Guide Chapter 13, and this wiki. | It would be nice to align the default Business Accounts, Guide Chapter 13, and this wiki. | ||
| + | |||
| + | ==> You don't have to use my account structure. | ||
> I use two tax tables -- GST on Sales, GST on Purchases. | > I use two tax tables -- GST on Sales, GST on Purchases. | ||
Useful information for the Guide Ch13. | Useful information for the Guide Ch13. | ||
| + | |||
| + | https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_Tax_Tables | ||
| + | |||
| + | Seems steps must be: | ||
| + | # setup accounts (text does not specify if GST accounts are Asset or Liability) | ||
| + | # add Tax Table Entry(s) | ||
| + | # update File, Properties, Book options Business tab: Default Customer/Vendor tax table | ||
Latest revision as of 02:17, 27 June 2023
https://wiki.gnucash.org/wiki/index.php?title=Custom_Reports&curid=1404&diff=13193&oldid=13178
Hi Chris,
Nice to see you here! But Why do you not use <syntaxhighlight lang="scheme">...</syntaxhighlight> instead of <pre>...</pre> like in the rest of the page? It looks much nicer as you can see in Wiki Tips. --Fell (talk) 22:21, 11 January 2018 (UTC)
Quickstart Australian BAS My account setup
https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_account_set_up
The GST parent account is not clear from the text. Businesses aim to make money and GST is charged on that income so it follows GST is a liability. Liability:GST:GST on Sales (ie tax collected) and Liability:GST:GST on Purchases (ie tax paid) shows the net result at any time.
==> NO. GST paid to suppliers is an asset. I'll get it back at the next BAS.
==> MYOB use LIABILITY the same as QuickBooks: https://wiki.gnucash.org/wiki/Alternate_Australian_GST_setup Do you have a reference for any other package using Asset and Liability accounts?
It would be nice to align the default Business Accounts, Guide Chapter 13, and this wiki.
==> You don't have to use my account structure.
> I use two tax tables -- GST on Sales, GST on Purchases.
Useful information for the Guide Ch13.
https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_Tax_Tables
Seems steps must be:
- setup accounts (text does not specify if GST accounts are Asset or Liability)
- add Tax Table Entry(s)
- update File, Properties, Book options Business tab: Default Customer/Vendor tax table
