GST - How to calculate / manage / track GST.

[John Pettigrew]

In a previous message, Doctorcam <cam at ellisonpsychology.ca> wrote:

> I know it looks odd.  The tree is:
> 
> Liabilities ->GST
>    ->GST Paid
>    ->GST Payable

This is very similar to the way I handle Fixed assets:

Assets
   Fixed
      Fixed Assets
      Depreciation

'Fixed assets' is the account to which money is transferred when assets are
purchased. 'Depreciation' is the account from which depreciation payments are
made each month. Thus, 'Fixed assets' always shows how much has been spent on
fixed assets, while 'Fixed' shows the current value of the fixed assets
(because 'Depreciation' contains a negative value).

Works very nicely  :-)
-- 
John Pettigrew                         Headstrong Games
john at headstrong-games.co.uk            Fun : Strategy : Price
http://www.headstrong-games.co.uk/     Board games that won't break the bank
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