Related Articles
Cash Versus Accrual Accounting
We require all Formations adopt accrual accounting as this will ensure that your income and expenses are aligned in the same reporting period. Please ensure that you enter all invoices for payments in the month the expense was incurred, this would ...
GST Fundamentals
What are a Formation’s GST obligations? This depends on the turnover of your Formation. If your Formation earns less than $150,000 in revenue per annum you are not obligated to account for GST. However if the Formation earns over this threshold ...
Supporting the Group Treasurer
General guide to provide information to Group Treasurers, refer the attachment. If you have any queries please contact financehelpdesk@scoutsqld.com.au
Bank Reconciliation
You should on a regular basis reconcile your bank accounts in Xero. The bank reconciliation confirms all the transactions in the bank accounts are recorded in your business accounting records and may identify problems with your Xero file. For more ...
How to claim GST
Must our Formation be using Xero to claim GST? Yes, the Formation must be using Xero to claim the GST. This is because Branch Support Office has access to the Xero file, therefore the GST can be reviewed for compliance prior to lodgement with the ...