HOME ABOUT US ARTICLES BLOG FAQ CONTACT US
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software

Articles Blog

Reckon/Quickbooks – Wanted to know if GST had been added twice in invoice?

 

images/Red Question Mark.jpgClient emailedMy client cheque/payment bounced – it was dishonoured by the bank – how do I enter it in the accounts?

 

Solutions

 

  1. One way - create a General Journal or Write Cheque - returning the amount to Accounts Receivable for the customer, which also is taking it out of the bank account on the other side. Then when they pay again, General Journal or Deposit back to the bank. What the GST if it crosses a BAS reporting period, and you are on Cash reporting (when actually cash is received). If not sure, call for a free chat to clarify.
  2. Another way is to delete the payment receipt on the bank (as the deposit and return on the bank, cancel each other out so nil effect on the bank). This can’t be done if the cheque is part of a multi-deposit, as it will not match the bank transaction. See item 3
  3. Another solution can be found HERE – more detailed but quite accurate, if the cheque is part of a group of deposits together.

Need help? Not sure?

Call for FREE 30min advice / strategy session today! Aus +61 407 361 596

and also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Search for info you need in the box towards the top right

Call for FREE 30min advice 0407 361 596

or click for the list of our articles


~ ~ ~ ~ ~ ~ ~~ ~ ~ ~ ~ ~ ~ ~

Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software

CATEGORIES


CUSTOMER LOGIN





Forgot your password?
Forgot your username?
Create an account

YOUR CART

The cart is empty

Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
© Account Keeping Plus 2012   |   Website Design by Low Cost Web Site Design Melbourne    |   Admin