Joined: 08 Jul 2009
|Posted: Sun Jan 12, 2014 7:45 pm Post subject: Codes
|Can someone tell me t
he correct codes to use in MYOB.
I seem to get different answers from everyone.
1/ Interest paid on a loan for car/machine is it FRE or N-T
2/ Stamp duty FRE or N-T
3/Interest charged from Bank FRE or N-T
4/ Repayments on machinery loan, but the GST has already been
claimed, I have entered these repayments as N-T
5/ Interest charged on a Machine Insurance I use N-T
Every time I do the Bas I question if I am using the correct codes.
But when I ask people they all seem to have different ideas as to which one's I should use as I understand that I need to enter the FRE amounts that I have.
If anyone there can give me the correct answers it would be much appreciated as I am about to do my quarterly bas.