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How do I process a cash back offer from a supplier promotion?
We received a small cash back offer from our supplier of printing supplies .
These are normally expenses - but there should not be GST associated with a cash back?
How do I process this please?
Solved! Go to Solution.
Welcome to the MYOB Community Forum, I hope you find it a wealth of knowledge
Generally, with a cashback situation, you would pay for the full product and then at a later stage receive a portion of funds back into the bank account.
The way I would deal with the situation would be:
I would recommend speaking with an accountant in regards to the tax codes and accounts involved in those transactions.