We’ve noticed that business owners sometimes get confused when their BAS amount payable is considerably higher or lower than what they are expecting. Usually this happens when they report GST on a cash rather than an accruals, (or non-cash), basis. For most business, a BAS is largely for GST, PAYG withholdings (employee taxes withheld) and […]
Do you know the difference between cash and accruals accounting? More importantly, do you know what impact it has on your financial reporting and which one is right for you? Check out our YouTube video to learn more.