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Spend money: Identity a transactions as Unpresented

Experienced Cover User

21Posts

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21 Posts
Experienced Cover User
Australia

Please refer to GSTR 2000/D5 paragraph 17 -

"17. Consideration is received when a cheque is received by the payee and not when it is banked, or cleared. Likewise, consideration is provided when a cheque is either handed or posted to the payee and not when the money has been drawn. Consideration is received for GST purposes even if the cheque is not banked in that period."

Can Essentials please include the functions so that it can comply with GST regulations please.

 

"Take up Unrepresented Cheques (UPCs) as cash transactions"

Current Status: Archived
Last Changed: June 2021

Thank you for the idea. Unfortunately, this request has had no support from the community since it was submitted, so we are moving this idea to the Archived status. For more information on Idea Statuses, please read this article: Changes to our Idea Exchange pages

1 Comment
Steven_M
45,180 Posts
Former Staff

Thank you for the idea. Unfortunately, this request has had no support from the community since it was submitted, so we are moving this idea to the Archived status. For more information on Idea Statuses, please read this article: Changes to our Idea Exchange pages