Re: [SQL-Ledger-users] Tax summary

[Adrian B. <ad...@sn...>]

Leo Masciuch wrote:
> 
> This sounds rather odd.  I was under the impression
> that only the USA allows cash accounting for private
> corporations.  Everywhere else requires accrual
> accounting which means that you count the funds
> when accrued, not paid.  Canadian GST (another form
> of VAT) works this way as well.  At least in Canada,
> Dieter's suggestion will yield the correct results.
> 

Yes you are correct, but more correctly in Australia businesses can
elect to operate on cash accounting or accrual, at least as far as the
GST reporting and return to the taxation office.

Thanks for the advice.

Adrian
-- 
Adrian Blake  (MIEEE)
Smart Radio Systems Pty Ltd
26b Bombala St, Cooma, NSW 2630, Australia
Ph 61-2-64525555 Fax 61-2-64524317