Methods to record import costs (incl. GST) on overseas purchases
Good evening, I am referring to the article regarding the recording of import costs https://www.myob.com/au/support/myob-business/purchases/recording-overseas-purchases-and-import-costs The article suggests to create a bill with the supplier being the customs agent and treat the import costs as either a stock item or as part of the inventory value. Would there be other ways to record the import costs by allocating a transaction directly to severalchart of accounts (for the various import costs categories: freight costs, custom duties,..) ? How would you then treat the GST on the custom value of the goods ? + custom value of the goods with 'GST' and - custom value of the goods with 'N-T' all assigned to the chart of account 'Opening stock/inventory'. Thank you in advance
