fearnothing2002 wrote the following post on 7/15/2003 4:46:00 PM
Hi Guys,
I have just had a frustrating twenty minutes with my accountant. He INSISTS on showing by BAS GST figues on my year end accounts. My BAS is done on a cash basis, and my MYOB accounts are on accrual. Naturally the two are not the same, but he only wants to capture the CASH amounts in his set of year end accounts, meaning that my MYOB will not be reconcilable with his accounts.
And, if I put through Y/E entries in MYOB to reduce to the cash numbers, I suspect I will have reverse these pronto, or else my GST reports may bcome broken. Why is he so stubborn? I have MORE GST in accruals than the amount on the March to June BAS. He does not seem to be prepared to allow me to produce year end accounts on an accruals basis. Or am I wrong?
Any opinions gratefully received.
Geoff.