[Busmanagers] CASES21 Finance - Assets

[Scott, Marianne L]

Hi Raelene, 

It does not matter how the funds were raised you would code it inclusive
and claim back GST.

I would put full value of the piano. Which you would do after it is on
register by doing as Assets addition journal, pg 4:19 of process guide.

Marianne

North Geelong Sec College

 

________________________________

From: busmanagers-bounces at edulists.com.au
[mailto:busmanagers-bounces at edulists.com.au] On Behalf Of Clark, Raelene
V
Sent: Thursday, 25 August 2005 10:47 AM
To: Business Managers' Mailing List
Subject: [Busmanagers] CASES21 Finance - Assets

 

Hi everyone

 

I want to put a new piano on the assets register.  I know how to do it -
I just have a couple of curly questions.

 

We have an external piano teacher who organised trivia nights and other
fundraising events to raise the funds to buy the piano.  It wasn't done
through our fundraising committee.  When paying the invoice to I still
do "input taxed" like normal fundraising or should it just be GST
inclusive??

 

Second question - the piano is worth over $4,000 but she did a great
deal and we are only paying $2,800.  Should I modify the assets register
to reflect the true value for insurance purposes - and if so, how do I
do that???  The invoice doesn't show the actual value with a discount,
it just shows $2,800.

 

Thanks for your help.

 

Raelene 

Raelene Clark

Business Manager

Bayswater Primary School

9721 3755

clark.raelene.v at edumail.vic.gov.au

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