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July 2020
July 2020
Hi
I have bought a Printer from overseas amount of $14,493, having commercial invoice from the supplier. I have paid 30% advance payment on 17.06.2020 and 70% paid on 23.06.2020.The Printer will take a month to reach here.
I am lodging my Business Activity Statement quarterly and April-June is due to lodge yet.
Should I record this purchase as an order and convert into a bill after receiving it. There is no GST mentioned in the invoice.
Can anyone please advise how to record purchase of the Printer and what tax code should I use for that.
Thanks
Ravinder
Solved! Go to Solution.
July 2020
July 2020
Hi @Ravinder
I’d recommend discussing this with your accountant, as they will be able to advise you of the appropriate tax treatment for this item for your BAS as well as whether you should record this as a bill or through another method, such as journal entries
Regards,
Neil
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July 2020
July 2020
Hi Neil
Thanks for your advise.
Kind Regards
Ravinder
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