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 _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
