compare whole of march 2019 with whole of march 2020

jennifer byrne
jennifer byrne Member Posts: 35
edited June 2020 in Accounts Hosted
comparing the whole of march 2019 with whole of march 2020 to compare % changes for the Govt stimulus package

Comments

  • Larissa Hicks
    Larissa Hicks Member Posts: 22
    edited April 2020
    Hi Jennifer,

    You would want to generate a P & L Prev Year Comparison
    Reports>Company & Financial>Profit & Loss Prev Year Comparison
    Change your Dates to be Last month

    This should give you the information you need

    Good luck
  • Linda ABC
    Linda ABC Accredited Partner Posts: 1,131 Accredited Partner Accredited Partner
    edited June 2020
    In addition - go to Modify Report and Click the % change option to give you a definitive calculation on the % reduction in turnover.
  • jennifer byrne
    jennifer byrne Member Posts: 35
    edited April 2020
    Thanks greatly.
  • Maria Paul
    Maria Paul Member Posts: 15
    edited April 2020
    Larissa - so you would be looking at the top income figure? If you are cash accounting then this is the date that money is received so could relate to an earlier period. I'm confusing my self and hoping you can help!!
  • Larissa Hicks
    Larissa Hicks Member Posts: 22
    edited April 2020
    Hi Maria,
    The ATO's eligibility criteria says (for a business with a turnover of less than $1 billion) a 30% fall in "GST" turnover, so I would "assume" if you are on a cash basis then it would be monies received in that month. If on an Accrual basis, it would be your Invoices for that month, regardless of when you receive the money.
    In saying this the ATO are continually updating the information they provide, and may give further clarification on this soon.
    I hope this helps.
    Larissa