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jetbookkeeping
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merryfield, post: 82702 wrote:
how I record the sale in my business books, as well as how to pay the $218 GST from the sale back to the tax office.

It depends a little on how you booked the item a year ago and when exactly you bought it.

If you booked it as an asset, then you write an invoice now for $2,400 (probably incl GST, unless you got the GST on top). You choose that asset account, rather than an income account for this transaction. That can be either the asset account of that particular item or a separate one that you call something like “Assets Sold”.

At the end of the year, your accountant will show the transaction as a CGT event.

Alexander