GST - Code Prefilled

Attach screen shot. Wonder whether GST paid on purchase is an asset or liability.

GST Code- Prefi...

GST Code- Prefilled.png

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GST Code- Prefilled.png

• ADMIN RESPONSE

  Aug 7, 2019

  We have polled our partners, and a liability account for GST is the accepted approach. If the account is -ve then it is of course an asset. The accountant can journal this at end of year of required.

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