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I would like to print a summary report for GST by Account List to reconcile:
I would like this GST report to summarise the GST Tax Collected and GST Tax Paid by Account List, eg by Sales, Computer costs, travelling expenses, advertising, plant purchases etc etc.
Is it possible to print a report like this?
Welcome to the MYOB Community Forum. I hope you find it a wealth of knowledge.
A quick note to the GST reports, they take into account all transactions with Tax Codes regardless of what Account they are under. This is to calculate the totals under their GST Codes as BASlink only looks at the totals by GST Code and not the Accounts List.
I can certainly see how seeing this report with what accounts it is under, however it seems that there isn't a report for this in AccountRight. Currently a workaround would be to export 2 reports to Excel and doing a manual Excel Spreadsheet to add these 2 together to get the information you would like to see.
The reports I suggest tallying together would be the GST Detail Report (Cash or Summary, depending on your needs) and the Account Transactions Accrual Report. As these 2 reports show the ID reference numbers which you can cross-check against each other.
I hope this helps!
thank you for your helpful response. I did export both reports to excel and partially reconciled the differences.
It is very time consuming when there are many entries to reconcile the "sales value" and the the "purchase value" per the BAS reports to the sales shown in the P/L, especially when journal debit entries for income accounts will often place the value and the GST in "purchase value" and "tax paid" in the BAS report rather than as a debit in "sales value" and "tax collected". Lots of other reconciling items too (including credit entries to expense accounts).
It would be nice to have a GST code just for G1 and 1A items and a GST code for G11 and 1B items, instead of having just one GST code