How do I define the Tax Accounting Basis for my Business?

How do I define the Tax Accounting Basis for my Business?

Ostendo allows you to define one of three Tax Accounting options depending on how you collect and pay Tax.  The options are

 

· Invoice: Sales Revenue and Tax Amount are posted at time Invoice was raised

 

· Cash Immediate Sales: Sales Revenue is posted at time Invoice was raised.  Tax Amount is posted at time of Payment

 

· Cash Deferred Sales: Sales Revenue and Tax Amount are posted at time of payment.(Not used in NZ)

  

To define the option that you use go to File>System Configuration>System Settings

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