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jan2good's avatar
jan2good
Experienced Cover User
3 years ago

NR Not Reportable Tax Code

Hi In the MYOB notes regarding Retention Moneys it states '' If you account for GST on an accruals basis'' as I do ''You'll code the credit invoice as a GST code and code your retention as Not Repo...
Steven_M's avatar
Steven_M
Former Staff
3 years ago

Hi jan2good 

 

AccountRight will, by default, have a zero-rated tax code called N-T or Not Reportable. This tax code likely what that note is describing should be used. Please note: this tax code could have been deleted at some stage and may have been replaced with another code of a similar name - Lists>>Tax codes will showcase your tax codes.


We would recommend speaking to an accountant in regards to the best tax code within your company file that should be used for the situation.

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