How to pay a Sales Tax invoice?
Maf. King
maf at chilwell.net
Wed Feb 1 03:22:41 EST 2017
On Wednesday, 1 February 2017 06:16:58 GMT Nelson Handcock wrote:
> Hi,
>
> There is more GST on stock purchased than GST charged to my customers, so I
> owe the ATO. The account balances show:
>
> Liabilities:GST -494.30 (parent account - balance calculated)
> Liabilities:GST:GST on Stock Purchased -1277.13
> Liabilities:GST:GST on Sales 782.83
> Liabilities:GST BAS Payments
>
Hi Nelson,
the way I read these figures, I think the tax due is actually a refund to you.
So you should end up transferring money into your bank account...
HTH,
Maf.
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