We run a charity and we need to report to sponsors on the utilisation of the monies that we receive.
E.g. we receive USD100,000 (GST-exempt), and we’ve used USD70,000(GST-incurred) to build homes for the underprivileged. and we show remaining USD30,000 that can be carried forward to other projects.
My question: Is there a way to show Profit & Loss items inclusive of GST so that my sponsor knows exactly how much cash is left?