spend money, purchases not GST registered

espelberg

Hi,

I am a small business operator and Not registered for GST, my question is regarding processing 'purchases' and 'spend money' in MYOB.

Do I process the TOTAL amount of purchases/spend money in MYOB and use 'Tax Code" N-T? or is there a different way to process these transactions?

Thanks

Ed

Tracey_H

Hi @espelberg 

 

Thanks for your post. Generally speaking, if you do not need to report expenses to the ATO you would use the N-T tax code and record the total amount of the purchase. However, I do strongly recommend speaking to your accountant or tax agent to ensure you are recording your expenses correctly.

 

Please don't hesitate to post again if you have further questions.

 

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