Need clarity regarding payment to freelancers for correct process to follow, our queries are
Are freelancer like web developers, who provide us their services for secific project basis, are considered as vendors or employees/part time employees etc.
In case they are considered vendors, as most of them do not have GST numbers, should we add them as non GST registered vendors and deduct gst from payout or what ?
What should be the proper accounting entries, which accounts to debit and which account to credit, In the end we also need a summary of what we paid to a particular freelancer in a financial year.
Looking forward for a professional insight.