Preparing GST Returns - How do I include the sum from the GST Collected account?
Our income is provided GST exclusive and the GST is paid separately and recorded in the "GST Collected" account. The standard return and the MYOB GST calculation assumes that income inclusive of GST is entered into Box 5. I want to enter GST Collected directly into Box 8.
Can anyone suggest a solution other than doing a manually filled out return?
The only way I could see to keep it separate is by using the GST adjustments box - (Box 9) and putting the GST collecged into this box. However your circumstances seem specific - so an accountant might be the best person to ask on how your GST return should be populated correctly.
Regards, Jennie Kingma JK Business Systems Ltd, Hamilton, NZ Email: email@example.com