13 NCG For Purchase
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Revision as of 16:14, 12 August 2011 by Simon Clive (Talk | contribs)
NCG For Purchases
What tax codes are used for Purchases?
Australian Users of ERP need to account for GST on sales and purchases. It is important to remember that ERP uses different tax codes for GST on different transaction types. It is critical that you understand which codes to use or your reports for BAS and other financial reporting will not be accurate.
Tax codes for purchases are as follows:
- CAF Capital Acquisition - GST Free
- CAG Capital Acquisition - Inc GST
- CAI Capital Acquisition - for making Input Tax
- NCF Non-Capital Acquisition - GST Free
- NCG Non-Capital Acquisition - Inc GST
- NCI Non-Capital Acquisition - for making Input Tax
