[GNC] Accounts which are both Income and Expense accounts
flywire
flywire0 at gmail.com
Mon Jul 24 20:58:30 EDT 2023
Another example recently discussed in
https://wiki.gnucash.org/wiki/User_talk:Christopherlam
Businesses aim to make money and GST is charged on that income so it
follows GST is a liability. Liability:GST:GST on Sales (ie tax collected)
and Liability:GST:GST on Purchases (ie tax paid) shows the net result at
any time.
==> NO. GST paid to suppliers is an asset. I'll get it back at the next BAS.
==> MYOB use LIABILITY the same as QuickBooks
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