I am doing the bookkeeping for a friend and the business sale contract does not split the amounts between goodwill and P & E and no listing etc. The contract i believe is a going concern but this has been crossed out on the contract and the settlement statement includes GST in the purchase price. How do I account for this in MYOB essentials (anyone working at accounting firm) I have not for 15 years went the commerce direction for a while. Do I code it all to Goodwill and not claim GST and just claim GST on the adjustments? is the best way to bring it in via journal entry?. Working on the BAS and not sure what to claim? Thanks
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