Inconsistent GST returns

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Contributing User incx
5 Posts
Contributing User
New Zealand

Inconsistent GST returns

Had an issue with the GST 101 form still using 12.5% after doing a PC upgrade. Turned out to be I needed to upgrade from AccountRight v19 to v19.5. So the GST 101 report appeared to correctly multiply by 3 and divide by 28 in box 8 as expected.

 

However, another issue, and a puzzling one has turned up. When the system was running on v19, revenue was shown as around $222k. However, on upgrading to v19.5 (and running the further updates), revenue is shown as $189k.

 

Any ideas?

1 REPLY
Ultimate Partner jenniek
2,072 Posts
Ultimate Partner
New Zealand

Re: Inconsistent GST returns

Hi @incx

This is because the GST return works backwards to calculate the gross sales and gross purchases. So on the V19 form the bottom line was correct, but the gross sales and purchases were wrong. The new GST return will be correct.

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
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