Re: GST

Mete
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Mete
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Re: GST

A coding error was made and a sales was coded to Owners Contribution, therfore GST was not paid on this entry.  As it will span a GST payment period, how do I deal with correcting this issue?   Thanks for you help

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Ultimate Partner jenniek
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Ultimate Partner
New Zealand
jenniek
Ultimate Partner

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Re: GST

Hi @Mete

So are you saying it will cross over into a new GST period? If so, then I would credit the invoice in the current ST period with no GST, then re-charge with the correct income account including GST. Match these two invoices off and this will fix the GST content in the current period. eg: original invoie was done in April/May GST period. Date credit and new invoice in the June/July GST period.

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