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The correct way to record pre-GST sales and purchases?

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Experienced Cover User shau
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shau
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The correct way to record pre-GST sales and purchases?

Hey my tax accounting friends. If I'm a non-GST-registered sole trader, when using MYOB AccountRight, which tax code do I use for purchases from GST-registered suppliers, and which tax code do I use for sales? (N-T, GNR, GST, other?)

 

I've read conflicting information about the correct tax code to use.

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Ultimate Partner GDay53
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GDay53
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Re: The correct way to record pre-GST sales and purchases?

@shau 

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

If you are not registered then I would use N-T (not reportable) as you don'y have to do BAS reporting.

 

If my response to your query and has helped, please mark my post as a solution to help others in the future.
Graeme Day
Registered BAS Agent #24745540
First Class Accounts Clayfield
Mobile: 0402 841 627
gday@firstclassaccounts.com
MYOB Certified Consultant
MYOB Diamond Partner
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