[GNC] Accounting for GST in Australia

[flywire]

Try this. Sample RCTI but varies by recipient. Note GST-Free Transaction
Levy is in this example.

This is really simplified because income and cost components are being
tracked for different enterprises and these livestock aren't
necessarily from the same enterprise.

Tax Invoice

Income                                           Value      Total
              12Ewes                                   87.50    1050.00
               8Lambs                                 115.25     922.00
              20Total                                           1972.00
                GST                          0.10                197.20


Expense
                           Amount     GST        Value
Commission               5%      98.60       9.86     108.46
Transaction Levy       0.50      10.00                 10.00
Yard Dues Sheep        1.50      18.00       1.80      19.80
Yard Dues Lambs        2.5%      23.05       2.31      25.36
Cartage                         140.00      14.00     154.00
Insurance                2%      39.44       3.94      43.38
                                                                 361.00

NETT PROCEEDS                                                   1808.20
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