GST on free items
Hi, one of my clients has been invoiced a bond for the hire of space at a community centre. The bond is NT and is allocated to a liability account. On the same invoice, we will charge them for hire...
Forum Discussion
Hey colleenWatson,
The accrual report is about what’s owed, so you’ll see invoices sitting there as receivables, which means those bonds will show up as multiples of $200 if they haven’t been paid yet. On the other side, the cash report shows what’s actually been paid out during the period. If those invoices haven’t been settled, they won’t appear in the cash totals. It really comes down to whether payment’s been made for those bonds in the month you’re checking if it’s just invoiced and not paid. To keep things accurate, it’s also worth checking if any bond transactions are dated in the future, since that’ll affect what shows up in each report and could explain any surprises in your figures. It's also best to reach out to our team on Live Chat via our virtual assistant, MOCA, or by submitting a support case via MyAccount.
Cheers,
Doreen
