Hi folks. I have used Quickbooks before but several years ago so I have a general idea of
my around it.I am using the trial version of ReckonAccounts Accounting: Small Business Edition 2013
The tax codes are doing my head in though and I cant afford to get someone in to do it for me (I live a long away from most places) so I am hoping I can get some help here.
First up some of the items I sell , I buy gst free (Herbs and spices)
Some items I buy have gst. (Packaging etc)
Are these capitol aqu or non capitol aqu ? What is the difference (in basic)
Obviously items bought in go in Cost of Goods Sold (I think)
Items I sell – do I still have to charge GST on sold item that I buy gst Free ?
What income account do I use for sold items. I remember I used to use 'Sales' but its not on the list? Im thinking invetory asset ?? Is that right ?
Pretty sure I can work the rest out but these are doing my head in .
I was going to use a lower version of quickbooks but I need to be able 'assemble' items I sell as they have several components to them
Thanks in advance for any help