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Navision in Australia - GST - chash basis
sv2206
Member Posts: 2
Dear all,
we are a german company, using MBS Navison 4.01.
Now we are planning to implement Navisin for our Australian sister company.
The australian tax accountants told us that there are two possible ways to handle the value added tax "GST".
1. cash basis - tax is payable when the vendor/customer invoice becomes paid.
2. noncash basis - tax is payable when the vendor/customer invoice is issued.
I think that our german Navision can only handle the "noncash basis" variant as it is the same as in germany.
Does anybody know, if there is a local australian granule for Navision available that can handle the cash basis, too?
Thanks a lot in advance for your answers!
sv.
we are a german company, using MBS Navison 4.01.
Now we are planning to implement Navisin for our Australian sister company.
The australian tax accountants told us that there are two possible ways to handle the value added tax "GST".
1. cash basis - tax is payable when the vendor/customer invoice becomes paid.
2. noncash basis - tax is payable when the vendor/customer invoice is issued.
I think that our german Navision can only handle the "noncash basis" variant as it is the same as in germany.
Does anybody know, if there is a local australian granule for Navision available that can handle the cash basis, too?
Thanks a lot in advance for your answers!
sv.
0
Comments
We have always implemented with the GST based on Accrual Basis (GST accounted for at the time of the invoice) - as far as I know there is no functionality to do it on a Cash Basis. I am not aware of a add-on for this functionality in Australia.
Best regards,