FelicityEvelyn
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Joined 3 years ago
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Airtasker Income and Expenses
I have a question around Air Tasker Income. What is the best way to enter this into MYOB? Tax Advisor has instructed to report ALL the income, including the service fee - However the service fee is taken out by Airtasker before the money ever hits your bank. If I enter the task as an invoice and record the WHOLE Amount including service fee on the invoice, then the money that comes into the bank doesnt fully clear the balance of the invoice. Income Less Service Fee = Amount recieved in bank. If I enter the Service Fee as a negative in the Invoice, then the expense isn't correctly recorded. No judgement please, only new at this but any help I can get would be greatly appreciated.878Views0likes1CommentRe: GST Not Balancing
Thanks for replying Tracey. I can confirm the ending balance on the General Ledger report is the same as the Balance Sheet. But the General Ledger report & the GST Cash Basis Detail Report don't match up because the Cash Basis report is based on payments, where the General Ledger Report only shows sales. The Tax Collected on the GST Detail Accrual Report matches the General Ledger Net Activity.1.2KViews0likes1CommentIncorrectly Applied Payments
Hi, I have just taken over a company file, and have noticed that for the past 12 months, some payments have been applied to incorrect invoices. What is the best way to rectify? The previous bookkeeper suggested undoing all the bank reconciliations to delete the imcorrectly applied payment and apply it to the correct invoice - But this seems very time consuming to me. Could I just reverse the payment with todays date, and then re-apply it to the correct invoice (also todays date)? The reversals and new payments would cancel one another out in the current bank reconciliation, but I'm just wondering if this then leaves the Invoices with reversed payments as outstanding?501Views0likes1Comment