Solved
Lawyers fees, how to process re GST
In Nov 2024 we had to pay an initial $10k upfront fee into our lawyers Trust Account to get the ball rolling. The lawyers advised no invoice would be sent for this initial amount and that Progress invoices would be sent out as works and fees were incurred which would be drawn down off this $10k amount. (Therefore I assume the GST cannot be immediately claimed)
On 20th Dec the lawyers then sent an invoice for $3811.50 Inc GST as a drawdown off this $10k amount which includes GST for works & fees incurred to that point leaving a balance of $6188.50.
My question is, how do I allocate and process all this in MYOB AccountRight, and how do I treat the GST, especially when the drawdown occurs over different BAS Qtrs.?
