Tax Codes in Charts of accounts
Hello everyone, I been using MYOB for a Year or so Now. When I have started my business in last FY, I was not registered with GST. So, I left everything as N-T in Tax Codes and charts of acco...
Forum Discussion
Thanks for posting.
Regarding financial advice, we highly recommend you seek assistance from your Financial Advisor.
Cheers
Genreve
As suggested by Genreve_S this is likely something you should discuss with your accountant as with some accounts it depends on how your business uses them. Generally speaking income and expense accounts are commonly set to GST except things like depreciation and wages and super etc. In terms of asset accounts generally only Plant and Equipment accounts.
I suggest you download the sample clearwater file from here and see how that is set up. Each business is different however this might give you some ideas and identify questions you might need to ask your accountant.
Regards
Gavin
- Thank you, Gavin. Helpful somehow.
