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Accounting for Uber Revenue

Discussion in 'Australia' started by JaySonic, Dec 27, 2016.

  1. Instyle

    Instyle Moderator Moderator

    Location:
    Gold Coast
    If you notice a discrepancy between the two, you should bring that to Uber's attention promptly. There won't be any discrepancy between your online statement and banked funds, if Uber is charging more than what quoted fare is on your statement, that is a separate issue that won't affect your accounting for this task.
     
  2. whyza

    whyza Well-Known Member

    Location:
    world
    ...so let's go again-sum of money in my account divided by 8 and multi played by 10,what you get just add to the money in your account,that get me full fare including tolls,that is the sum of money that I'm obliged to pay GST upon it...any problem with that???no worries about being dishonest,at least not me...;-)))
     
  3. Instyle

    Instyle Moderator Moderator

    Location:
    Gold Coast
    I'd certainly advise and want to be checking that against the statement to ensure Uber is being honest.
     
  4. whyza

    whyza Well-Known Member

    Location:
    world
    ...there were links to websites about upfront pricing,kind of scary,I could not sleep after reading,if ATO would find wrong with me then I bet there would be many,many more drivers in same position,and I would not go down quietly...;-)))))
    ...and potentially I'm not paying GST on money that someone else "skimmed"...
     
  5. JaySonic

    JaySonic Well-Known Member

    Location:
    Sydney
    I would say it needs to have itemised line items that total the gross figure in order to show the GST for the entire fare, before Ubers commission (in accordance with ATO guidelines).

    Im also thinking that it will make reporting a lot easier if the commission component was allocated to its own cost centre.

    And I'll need to write off/credit this component each week, right, in order to balance my bank reconciliation against my accounting records, yes?
     

  6. JaySonic

    JaySonic Well-Known Member

    Location:
    Sydney
    This is disgusting. Paying GST on money we never see.

    Right alongside the fact that we pay GST from the first dollar. This impacts another small income stream that I have, and Ive had to start charging my clients 10% extra, which Im not at all comfortable with. Alas, in the next fiscal year I'll likely be trading above the threshold anyway so it doesnt matter so much. Very unfair ATO ruling though
     
  7. snert

    snert Active Member

    Location:
    sydney
    Really pisses me off this, why should cab drivers be discriminated against in this way?
    I mean, it must be by far the most horrible way to earn a living, the only good thing is it used to
    be mostly cash.......not now though. Then you got the multi-millionaire who is buying flats in the CBD, paid for by the tenant, and the tax man.
    The tax man by the way get this money from the likes of cab drivers, who cant afford to even fart in the CBD.
    The time has come for all Aussies to demand a fair suck of the sauce bottle.
     
  8. Dieudonnee

    Dieudonnee Active Member

    What is la question? S'il vous plaît.
     

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