Assessable Income In Your Books: How To Record Sales, Grants, And Other Receipts For Review

Assessable Income In Your Books: How To Record Sales, Grants, And Other Receipts For Review

Assessable Income in Your Books should be recorded clearly so sales, government grants and other receipts can be reviewed without confusion at Business Activity Statement (BAS) or year-end time. When every bank deposit is treated as sales, your gross income can be overstated, and your bookkeeping may no longer reflect what actually happened in the…