General - Financial Reporting
Consider having a bank account with a negative balance. That’s an overdraft. Moreover, it’s typical to setup a bank account in the current asset sector of y...
Sat, 7 Aug, 2021 at 10:23 PM
Certain whole sectors will switch - Net GST will reflect as either Net GST Receivable or Net GST Payable depending on the net value being either positive or...
Sat, 7 Aug, 2021 at 10:25 PM
If the "Trustee" is a Company, inancial Report should show "Director's Declaration" If the "Trustee" is an Ind...
Sat, 16 Mar, 2024 at 5:59 PM
The current formula for Opening Retained Earnings is: 'Opening Retained Earnings/Accumulated(Losses)' = 'Closing Retained Earnings/Accumulated(...
Sat, 16 Mar, 2024 at 5:59 PM
This Financial Report "Duplicate" feature will help our user to have the same content/template of the Statement. It will carry forward any change...
Sat, 16 Mar, 2024 at 6:12 PM
Question: Could you please advise why the total income is not $61,302 (i.e $41,302 + $20,000). Answer: The report only shows the total income $20,000 f...
Fri, 12 Apr, 2024 at 11:21 AM
Illustration: The agent "Edwards & Co Pty", would like to change the "Prepared By" from "Edward & Co Pty Ltd" to "...
Wed, 17 Apr, 2024 at 7:24 AM
When a group of entities forms a consolidated group for tax purposes, they are treated as a single entity for income tax purposes. This means that all the m...
Thu, 2 May, 2024 at 8:28 AM