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12 Dec 07 GST accounts and schools

The ATO has reminded schools to close down their computerised accounts, for GST reporting, for the end of school year. Unlocked accounts can lead to incorrect sales and expenses being reported on the December activity statement and the next one lodged in the new school year. For example, purchases schools make in January may incorrectly appear in the December activity statement.

For a copy of the ATO advice, go here

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