Finance

GST codes, how prices are entered, the BAS worksheet, income in advance and the export to the accounts.

What this part of Sports Club OS does ↗

Overview

• What Finance doesThe treasurer's figures: GST codes and how prices are entered, the BAS worksheet, income in advance, this year against last, and the export to the accounts.

How to

• Export a month's income to your accountsPrint a month's money received by payment method and account to key into MYOB Business, or download the accountant's spreadsheet. Set the club's account codes.
• This year against last, and invoiced against receivedCompare income without GST this financial year so far with the same days last year, by stream, and see what was invoiced against received each month.
• Use the BAS worksheetSee G1, 1A and G3 for a quarter or a month, check every sale behind them, mark the period lodged once the club has lodged, and set the basis.

How it works

• How GST is worked out, and how prices are enteredThe four GST codes, how an invoice's GST is worked out in whole cents, and whether the office types prices with or without GST, and how to switch.
• Income received in advanceHow membership fees are earned day by day, how much received money is for days still to come on any day, and how joining fees are treated.
• Member and visitor incomeA period's income without GST split by who it came from (members, guests, visitors and functions), as evidence for the club's accountant.

Questions

• Why is the GST a cent different from 1/11?An invoice's GST is rounded once over the whole invoice, so one line's GST can be a cent away from its own 1/11. Every line still adds up exactly.