RE: [SQL-Ledger-users] Tax summary

[Leo M. <Le...@Ne...>]

I suspect that to do GST/VAT on a cash basis and the rest
of the books on an accrual basis, you'd have to develop
the tax handling routines separately.  The only accounting
package that I've seen attempt the is QuickBooks and their
solution for cash accounting uses proportions applied to
accrual accounting.

I wonder if Dieter anticipated the nuances that would 
arise for each country's implementation of sales tax.  I
spent a number of years in the USA and it is a matter of
each municipality's implementation of sales tax.

Regards,
Leo R Masciuch, M.B.A., P.Eng.
Netryst Corp.
5051 Vantage Cres NW
Calgary, AB  T3A 1X6
Canada
Tel: +1-403-202-5039
Fax: +1-403-202-5038
Le...@Ne...


-----Original Message-----
From: Adrian Blake [mailto:ad...@sn...]
Sent: Thursday, March 08, 2001 16:59
To: sql...@li...
Subject: Re: [SQL-Ledger-users] Tax summary


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