@Jo You say you want to be cutting edge but your GST return is out of date & your GST code setup still doesn't meet Australian standards!
Posts made by Snirtus
Aussie GST Confusion
I wonder if Aussie GST codes are different to Kiwi codes.
In Aus, financial transaction like interest, are Input Taxed Supply. Cash Manager defaults to N, which in Kiwi is GST not applicable, which in Aus is F, GST Free.
There is also now a simpler BAS for small business in Aus in which you no longer need to report G2, G3, G10 and G11.
I think Cashmanager should sit down with the Australian Tax Office or a good Aus accountant and revise the code setup.
RE: What do I code transactions between farm and trust to??
@ilovefarming I set up each entity as a bank account. So when I transfer money from one entity (bank Account) to another I use BT. You must remember to do two transactions debit the account the money comes from and another transaction that credits the account the money goes into. This way you can reconcile both accounts and also filter by bank account in the budget.