[GNC] Help needed in Australia

Weiwu Zhang a at colourful.land
Wed Jul 28 23:18:21 EDT 2021


On Wed, 28 Jul 2021 at 21:34, flywire <flywire0 at gmail.com> wrote:
> GST is automated for accrual accounting but not for cash accounting.

Thanks! The devil is in the details so may I confirm this with you:

- We record expenses at the moment of payment since most are purchased
online, invoiced, and paid at the same time.

- But regarding income, we always invoice customers first, and record
receivable when doing the invoicing. I know how to make an invoice
with GnuCash and how to do a transaction between the receivable asset
and current asset later.

Does this make my company accrual accounting or cash accounting? Is
the GST handling still an issue for us in this case?


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