Businesses may choose for themselves how they take part in EAST. You may choose to accept east each month (or day) up to a pre-defined limit, on a first come first served basis. You may choose to accept east as a percentage of each offering. You may choose to accept east on a certain day of the week, etc. You may use it as a promotional tool, or only on certain products. You can use east as creatively as you wish, as long as you honour the spirit of the initiative.
Accounting for two currencies
Two currencies of equal face value co-exist easily. For every sale which includes a component of east, the buyer should provide a Trading Slip for that amount. This Trading Slip goes into the cashbox, just as a cheque would. To process transactions in bulk automatically, create a spreadsheet, and upload a .csv file. If you need help, we can show you how to do this.
Those with offerings that earn $200 or more Per Annum, wheather in NZ dollars, east, or barter, need to pay taxes on the profits, and keep suitable records just the same as any normal business. Taxes on all taxable trades, including barter, must be payed for in NZ dollars.
We are a non profit community organisation. We gratefully accept koha to help cover our running costs. This can include money, east money, time, or goods or services for fundraising. Thank you for your support!
Here is our Kiwibank Account if you require it: Account Name:EAST Number: 38-9012-0834054-00 Kiwibank