Forum Discussion

Ravinder's avatar
Ravinder
Experienced User
5 years ago

Overseas purchase

Hi

I have bought a Printer from overseas amount of $14,493, having commercial invoice from the supplier. I have paid 30% advance payment on 17.06.2020 and 70% paid on 23.06.2020.The Printer will take a month to reach here.

I am lodging my Business Activity Statement quarterly and April-June is due to lodge yet.

Should I record this purchase as an order and convert into a bill after receiving it. There is no GST mentioned in the invoice.

Can anyone please advise how to record purchase of the Printer and what tax code should I use for that.

 

Thanks

Ravinder

 

  • Neil_M's avatar
    Neil_M
    5 years ago

    Hi Ravinder 

     

    I’d recommend discussing this with your accountant, as they will be able to advise you of the appropriate tax treatment for this item for your BAS as well as whether you should record this as a bill or through another method, such as journal entries

  • Neil_M's avatar
    Neil_M
    Former Staff
    5 years ago

    Hi Ravinder 

     

    I’d recommend discussing this with your accountant, as they will be able to advise you of the appropriate tax treatment for this item for your BAS as well as whether you should record this as a bill or through another method, such as journal entries

    • Ravinder's avatar
      Ravinder
      Experienced User
      5 years ago

      Hi Neil

       

      Thanks for your advise.

       

      Kind Regards

      Ravinder

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.