Computerised accounting systems for a GST trading business

What this note covers

1. Overview of computerised accounting software in an Australian GST context
2. Recording GST-inclusive transactions: double-entry automation
3. Source documents generated by accounting software: tax invoices and receipts
4. Accounts receivable subsidiary ledger: managing trade debtors
5. Accounts payable subsidiary ledger: managing trade creditors
6. Inventory subsidiary ledger: perpetual stock management and cost flow assumptions
7. BAS preparation, cloud reporting, and internal controls in a computerised system

7 sections · 14 key terms & formulas · 6 common mistakes