A bit thick on how to handle GST

Robert Graham Merkel rgmerk@mira.net
Wed, 1 Nov 2000 11:07:05 +1100


linas@linas.org writes:
 > I don't see why it needs to be a new account 'type'.   He could put the
 > GST in either an asset account, or in an income account.  In one case,
 > the default report shows gst as contributing to the net worth, in the
 > other case, it doesn't.   How you want to think about it is between you,
 > your accountant, and your tax collector.
 > 

I'd personally prefer the asset/liability approach, because that way
it automatically takes GST out of calculations for *income* tax.


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Robert Merkel	                           rgmerk@mira.net

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