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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 Guidelines for Formations
1. A Formation is not required to claim GST. If they chose not to, they can set up Xero to remove the accounting for GST. 2. If a formation has not claimed GST before, the maximum they can claim back to is the beginning of the previous financial ...
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 ...
GST on Income
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