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Note 7 Payables

Note 7A: Suppliers

2019

2018

$

$

Trade creditors and accruals

1,537,287

1,461,109

Total suppliers

1,537,287

1,461,109

All suppliers are non-related entities and are expected to be settled within 12 months.

Settlement was usually made net 30 days.

Accounting Policy

Financial liabilities are classified as other financial liabilities. Financial liabilities are recognized and de-recognised upon ‘trade date’. Suppliers and other payables are recognised at cost. Liabilities are recognised to the extent that the goods or services have been received (and irrespective of having been invoiced).

Note 7B: Other Payables Other Payables

2019

2018

$

$

Wages and salaries

347,824

234,925

Superannuation

18,552

446

GST payable

323,361

347,420

Vending commissions

(46)

5,574

Other

223,375

201,555

Total other payables

913,066

789,921