Hugh Madden wrote:
>
> Hi all,
> I realise this thread was done to death a few years back.
>
> Anyway, perhaps the situation has improved.
>
> I resent having to purchase myob or quicken and vmware simply to keep
> track of my finances.
>
> I'm wondering how to go about:
> BAS/STS/depreciating assets
BAS = GST is just another account where the GST amount acculmulates
until you hand it over. Naturally there is a GST credit account two. You
can do this with any accounting package. YOU just have to allocate the
proportion to GST.
Is there anything that isn't GST affected? If not, just work it on your
quarterly totals.
STS?
All accounting packages do depreciation. It is really just a journal
entry. when you buy an asset, the value goes into an asset account
(matched by the liability/payment transaction) and when you depreciate
it each June, the deprecation goes into a matching reverse asset
account, which is match by a depreciation expense account.
I can recommend a book called Australian Accounting if you want to
understand accounting.
--
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