TezzaB
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Re: GST on imports
Yeah I think similar to Bells1. eg you have $100 (100%) GST to claim. do a two line spend money as below (tax inclusive amounts) COGS $1100 (tax code GST) (ie. grossed up x11) COGS ($1000) (tax code N-T) Net effect in the accounts is $nil to COGS, and $100 Dr to GST Paid Doesnt matter if you COGS or any other account you want - its net nil to that account, Xero has a specific tax code for GST on Imports which manages it perfectly, Unfortunately myob still requires this crazy workaround.128Views0likes0Comments