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• Penny commented  ·  Jul 01, 2010  ·  Flag as inappropriate  ·  Delete

  Hi, The Australian based tax systems needs for accounting are pretty simple. Basically we just need that invoices have the words "Tax Invoice" on them instead of just invoice. We have a GST system, and only need be able to Label any items on an invoice or purchase order/bill with a 10% Gst amount if it applies and whether it is for consumables or assets. Every 3 months we need a report that states total income and total gst on monies in and total gst on monies out! One minus the other is Gst due!

  Maybe as a suggestion it would be good to be able to add tax categories if our own to the system. And also be able to group them like we can group items on your current chart of accounts.. This would allow most countries to set up there own taxes as well as group them for reporting quite easily! As far as entry for each tax only a few fields are necessary e.g Name: Amount: Description: Gst. 10%. Capital Aquisitions Ncg. 10%. Non capital aquisitions FRE. 0%. GST free goods