The correct configuration for a PayPal account on MYOB AccountRight
My business relies heavily on a PayPal account by which to receive payments from customers, but also to make payments to suppliers. It is used as a clearing account also, since funds from payments are oftened relayed on to various bank accounts. When setting up a new account for PayPal what would be the correct account type: Bank Accounts Receivable Other Current Access Fixed Asset Other Asset Further, what tax code classification should be given to this account?Solved2KViews0likes3CommentsThe correct way to record pre-GST sales and purchases?
Hey my tax accounting friends. If I'm a non-GST-registered sole trader, when using MYOB AccountRight, which tax code do I use for purchases from GST-registered suppliers, and which tax code do I use for sales? (N-T, GNR, GST, other?) I've read conflicting information about the correct tax code to use.Solved1KViews0likes1Comment
