Apportioning GST in the account register
email1 at keynetworks.com.au
Wed Jul 30 01:33:28 EDT 2014
> I really do not comprehend how people think this could be automated.
The problem is not how to automate tax rules for differing tax jurisdictions, rather it is to give one the option of apportioning tax (GST) on various components of a bank account transaction, just as is currently the case when generating an invoice.
In Australia (and other countries around the world) GST (or VAT) has to be calculated on the basis of the various components of each transaction - some taxable, others not taxable. That is fine if companies are on full invoicing systems, but smaller businesses need to be able to split their bank account transactions also.
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