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Prepaid insurance paid 2640 via cheq.but insurance company give invoice with stamp duty 5 in this case how i enter the transaction
Many insurance premiums have Stamp Duty that does not have GST.
It is necessary to have two lines in the transaction.
Make sure the GST in MYOB equals the GST on the Tax Invoice from the Insurance Company.
now my doubt is i include the amount 5 in prepaid insurance in transaction journal they there is no GST Included in this sum.