GST credit adjustment journal

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Contributing User HWCS
10 Posts
Contributing User
New Zealand

GST credit adjustment journal

Hi,

 

have had to write off a couple of bad debts and I can't seem to work our how to journal these to show up on the GST return sheet.

Wasn't large amounts but need to get this right as I'm due to be audited by IRD again shortly and don't want to give them any reason to get on my case.

 

Thanks

Bill.

2 REPLIES
Ultimate Partner jenniek
2,072 Posts
Ultimate Partner
New Zealand

Re: GST credit adjustment journal

Hi there @HWCS

Are these in your debtors ledger? If so, you would process credits against these invoices and code the credit to bad debts (including GST) This then would show up in your next GST return. Bad debts unless extremely large are not normally shown in the GST adjustments box - they just go through to reduce the GST on Sales.

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
Super Partner GDK
664 Posts
Super Partner
New Zealand

Re: GST credit adjustment journal

Hi @HWCS

 

Here is the support note for Writing off bad dets

Thanks

Graeme Knox BSc BCom DipCom COP AT
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