Simple account setup for australian GST

Ian Willis wil197 at iprimus.com.au
Fri Oct 29 20:45:31 EDT 2004


Hi All

I have relatively simple requirement, however I am a simpleton when it
comes to accounting.

I currently do contract work primarily to a single agency.

I invoice them through a contracting agency and receive weekly payments
into a company savings account.
Of this payment 1/11 is the Australian Good and services Tax (GST) that
is paid to the government quarterly.
The bank allows downloads of my statement in a number of formats that I
would ideally like to suck staight in however if they need to be mangled
(one of the formats is comma delimited format). I can mangle them to add
as much detail as it necessary to make importing easier.
Against this things that I purchase that have gst are redeemable against
the GST liability. At the end of each quarter it would be nice if I
could just look at the two numbers if I have imported everything
correctly.
What I would like to know is what is the best/correct way to set up
gnucash (account structure) to meet these requirements. I bit of magic
would be nice but the underlying structure is the most important thing.




Thanks Ian



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