GST Tax Code linked accounts incorrect 2 montths into new MYOB company file

[LM10]

I can change the tax code, linked accounts to the correct GST accounts, ...no issues for future entries.

But ...How does one get the history accross for the existing GST coded in all the transactions, over the last 2 months thus far. ...  ie. what is the best way to get the exciting coded GST amounts for both collected and paid into the corrected linked accounts, without doing a total jnl to move the exciting transacted GST to its proper place, as a direct jnl wll impact some relevant GST reports or have other consequences.

I could try using the combine tax or GST codes feature, but after the linked accounts are corrected in the GST Tax Code set up (as above),  I would need to try and use GST to GST (if there is such a thing) or could I combine GST to a temporary intermediate tax code, and then use combine to move it back to GST where the new transactions will be going.

[Shella_A]

Hi @LM10,

Thanks for your post, and welcome to the Community Forum. I hope you find plenty of helpful information.

My apologies for the late response. I understand your inquiry about GST-linked accounts. We appreciate your patience with this. Here's a step-by-step guide on how to correct the GST Tax Code linked accounts and how to use the combine tax or GST codes feature in MYOB:

Correcting GST Tax Code-Linked Accounts:

• Go to your MYOB software and navigate to the "Setup" menu.
• Select "Linked Accounts" and then "Tax Codes.".
• Here, you can change the linked accounts to the correct GST accounts for future entries.
• Please note that this will not affect the history of the existing GST-coded transactions over the last 2 months.

Transferring Existing GST-Coded Transactions:

• Unfortunately, there's no direct way to transfer the existing GST-coded transactions to the corrected linked accounts without impacting some relevant GST reports.
• You could try using the "Combine Tax or GST Codes" feature, but this would require a temporary intermediate tax code.

Using the Combine Tax or GST Codes feature:

• After correcting the linked accounts in the GST Tax Code setup, you would need to create a temporary intermediate tax code.
• Then, use the "Combine Tax or GST Codes" feature to move the existing GST-coded transactions to this temporary intermediate tax code.
• Finally, use the same feature to move the transactions from the temporary intermediate tax code back to the corrected GST code, where the new transactions will be going.

Let me know if you need further help with this.

Kind regards,

Shella