by Peggy
(Alberta, Canada)
How to Record the GST Expense
I just started a small business and I will not be registering for GST at this time.
When I'm posting these invoices, do I post the entire amount (including the GST) to the account or just the amount less the GST?
For example, if I paid $10.50 for something and $0.50 was GST, do I post the entire $10.50 to the expense account of just $10.00?
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