Difference between revisions of "User talk:Christopherlam"

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(Quickstart Australian BAS My account setup)
(MYOB manage GST under the liability account)
 
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https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_account_set_up
 
https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_account_set_up
  
Businesses aim to make money and GST is charged on that income so it follows GST is a liability. Why complicate it with GST:GST on Sales (Liability) and GST:GST on Purchases (Asset) ?
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The GST parent account is not clear from the text. Businesses aim to make money and GST is charged on that income so it follows GST is a liability. Liability:GST:GST on Sales (ie tax collected) and Liability:GST:GST on Purchases (ie tax paid) shows the net result at any time.
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==> NO. GST paid to suppliers is an asset. I'll get it back at the next BAS.
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==> MYOB use LIABILITY the same as QuickBooks: https://wiki.gnucash.org/wiki/Alternate_Australian_GST_setup
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Do you have a reference for any other package using Asset ''and'' Liability accounts?
  
 
It would be nice to align the default Business Accounts, Guide Chapter 13, and this wiki.
 
It would be nice to align the default Business Accounts, Guide Chapter 13, and this wiki.
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==> You don't have to use my account structure.
  
 
> I use two tax tables -- GST on Sales, GST on Purchases.
 
> I use two tax tables -- GST on Sales, GST on Purchases.
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https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_Tax_Tables
 
https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_Tax_Tables
  
It seems a user must setup account (text does not specify Asset or Liability for those accounts), add Tax Table Entry, then update File, Properties, Book options Business tab: Default Customer/Vendor tax table.
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Seems steps must be:
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# setup accounts (text does not specify if GST accounts are Asset or Liability)
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# add Tax Table Entry(s)
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# update File, Properties, Book options Business tab: Default Customer/Vendor tax table

Latest revision as of 02:17, 27 June 2023

https://wiki.gnucash.org/wiki/index.php?title=Custom_Reports&curid=1404&diff=13193&oldid=13178

Hi Chris,

Nice to see you here! But Why do you not use <syntaxhighlight lang="scheme">...</syntaxhighlight> instead of <pre>...</pre> like in the rest of the page? It looks much nicer as you can see in Wiki Tips. --Fell (talk) 22:21, 11 January 2018 (UTC)

Quickstart Australian BAS My account setup

https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_account_set_up

The GST parent account is not clear from the text. Businesses aim to make money and GST is charged on that income so it follows GST is a liability. Liability:GST:GST on Sales (ie tax collected) and Liability:GST:GST on Purchases (ie tax paid) shows the net result at any time.

==> NO. GST paid to suppliers is an asset. I'll get it back at the next BAS.

==> MYOB use LIABILITY the same as QuickBooks: https://wiki.gnucash.org/wiki/Alternate_Australian_GST_setup Do you have a reference for any other package using Asset and Liability accounts?

It would be nice to align the default Business Accounts, Guide Chapter 13, and this wiki.

==> You don't have to use my account structure.

> I use two tax tables -- GST on Sales, GST on Purchases.

Useful information for the Guide Ch13.

https://wiki.gnucash.org/wiki/Quickstart_Australian_BAS#My_Tax_Tables

Seems steps must be:

  1. setup accounts (text does not specify if GST accounts are Asset or Liability)
  2. add Tax Table Entry(s)
  3. update File, Properties, Book options Business tab: Default Customer/Vendor tax table