fuzzzz1
3 years agoContributing Cover User
Entering starting inventory in a new account with EX GST prices
HI
I have sold my business.
I am assisting the buyer to add my inventory into his MYOB
Both using Accountright Live
We have exported my inventory and imported it into his
Now we have to do an inventory count to add the quantity of each product into his Inventory
when we do, it asks for the opening value - and that has to go to the Inventory account.
The sale of my businss is as a "Going Concern" and the stock is therefore GST Free.
Please advise how we can enter the opening stock value of the items as GST Free - when they will sell as GST INC?
thanks
Chris