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.
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.
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