The style of your teaching is helping me so much, I feel like other videos (or even my course conductor) didn't explain the purpose in using T accounts and now I totally get it.......Thank you for making these videos so basic for those new to this as I am......the quality and pace is so good. THank YOu Thank you THANK YOU!
Question. for example gst 1A in your general ledger is $200.45 for a quarter. So when you lodge your bas you would put 1A as $200. But what happens to the 45 cents . Could you manual journal it to sales
If there are sales taxes on the $500 that the clients paid, then where the sales taxes should categorize? (P.S. thanks for the videos, they are very helpful!)
The style of your teaching is helping me so much, I feel like other videos (or even my course conductor) didn't explain the purpose in using T accounts and now I totally get it.......Thank you for making these videos so basic for those new to this as I am......the quality and pace is so good. THank YOu Thank you THANK YOU!
Excellent
Thank you so much 😀
Question. for example gst 1A in your general ledger is $200.45 for a quarter. So when you lodge your bas you would put 1A as $200.
But what happens to the 45 cents .
Could you manual journal it to sales
If there are sales taxes on the $500 that the clients paid, then where the sales taxes should categorize? (P.S. thanks for the videos, they are very helpful!)
Sales tax should go into a "Sales Tax Payable" liability account.