Hoping someone can explain for me why when producing my GST calculation sheet and Tax Summary, the SALES income amount is incorrect, it is including any DEBIT transactions that were made during the period from the Directors Loan account.
My Profit and Loss (cash basis) shows income of $11,174 (ex GST) but my BAS sheet and Tax Summary show income of $30,275.55 (Incl GST) which includes all sales as per P&L but also a capital purchase of a car and any transactions on the Directors Loan account for the period. Can someone point me in the right direction?
Many thanks,
Rebecca.