Yes I suppose the confusing part is that the cash inflows and...

Yes I suppose the confusing part is that the cash inflows and outflows don't all translate over to the accrued accounts. But that is kosha as per AASB.

And it makes total sense. Merchant sales shouldn't be considered revenue, and therefore neither should the implicit costs of that merchant sale.

It creates somewhat of a disparity between the cash and accrued accounts, which I believe caused the original confusion in this thread, but the pleasing thing is that the auditor has given the all clear on the cash receipts and cash accounts, and it demonstrates phenomenal quarter-on-quarter growth in those merchant sales. The unaudited nature of those recent 4Cs is what had originally held me back from diving in too heavily. But they line up directly with the audited half yearly.

And to be honest this is quite incredible what we're seeing here.

Q3 FY17 - 107% QoQ growth
Q4 FY17 - 2675 QoQ growth
Q1 FY18 - 142% QoQ growth
Q2 FY18 - 221% QoQ growth

837% net growth in merchant sales in 4 quarters!