Nonprofit Accounting Question:

What is FBT?

Answer:

The tax payable on a non-salary benefit provided to an employee or an associate of the employee. The employer is liable to pay any FBT and may choose to recover the FBT amount from the employee.

Read All 61 Nonprofit Accounting Questions

Previous Question	Next Question
Can you please explain the difference between Consigner and Consignee?	Suppose if assume we paid 50/- as an advance for worth or 100/- goods, but our supplier sent only up to 25/- worth of goods. Know my question is that we want to close the transaction now and how it possible? What about VAT like Tax Setups in AP and AR? What about the SWEEP command in AP?