Hi Everyone, I really hope someone can help me.
I have only recently (in the past 3 months) taken over someones books.
There revenue is less than $75k, therefore not registered for GST.
But their books have been set up as they are.
I have now changed that.
So on the balance sheet it shows how much GST on purchases and how much GST on sales - I am unsure how do I clear these.
Does anyone know how i clear all GST back to zero - as nothing can touch the bank accounts
thanks in advance.
