When a sale is made, and tendered on Account, the GST Amount is sent to MYOB with the sale amount if using the ‘Accrual’ GST Accounting Basis.
Account Sale – Accrual
Sale of $50.00 Inclusive of GST and tendered on Account.
Account Payment – Accrual
A payment of $50 on Account.
Account Credit Adjustment - Accrual
An Account sale of $50 Inclusive of GST with an Adjustment of $1.00 was applied to this Account to leave an outstanding balance of $49.00.
Account Debit Adjustment - Accrual
An Account sale of $50 Inclusive of GST with an Adjustment of $1.00 was applied to this Account to leave an outstanding balance of $51.00. (NB. This can only be processed when Global Debtor not activated)
An Unallocated Payment of $50 Inclusive of GST tendered on Account.
A customer has an invoice owing of $50 and they pay $60