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Al-Cranswick
Level 1

Keen to hear about chart of account set ups optimised for professional services businesses in Australia, including default GST rates for particular accounts.

 
1 Comment 1
EmanE17
QuickBooks Team

Keen to hear about chart of account set ups optimised for professional services businesses in Australia, including default GST rates for particular accounts.

Hello there, Al-Cranswick.

 

Optimizing your Chart of Accounts (COA) is essential for ensuring that your financial reporting is clear and that your Business Activity Statements are easy to file in QuickBooks Online (QBO). I'll ensure that you receive the best guidance to address your concerns.

 

Since this involves managing accounts within your COA and their default GST rates, I highly recommend reaching out to your pro advisor or accountant. They can assist you in structuring your COA for professional services and guide you on the correct GST tagging for each specific account.

 

If you need any further assistance with your QBO account, please don’t hesitate to add any details. We're always here to help you.