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Bad Debt & GST

JonoNZ

Hi there. On MYOB Accountright I have a bad debt which sits within the current filing period for GST. I have followed the steps so that the amount owed has been allocated to the Bad Debt account instead of the customer account (which now sits at $0.00 and had been closed). Should this automatically be picked up on my MYOB GST report, or are there additional steps I need to take to make this happen e.g. Journal entry?

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Accepted answers

ChrisMc

If you wish the bad debt to show in the G13 instead of G11 you will need to amend this manually, see message at bottom of GST Report

* Box 9 and Box 13 adjustments will not be prefilled and must be included manually

All comments

jenniek

Hi @JonoNZ

Unless it is a significant bad debt, I would just let it reduce down the Total Sales and GST Collected, and not worry about putting it through Box 9/13

ChrisMc

JonoNZ

Thanks Chris - we are on invoice/accruals basis. Should that be showing in box 13 on the return automatically then? As of now it does not seem to be there. Do I need to journal that from Bad Debt to GST Input Adjustment at the end of the relevant period?

ChrisMc

If your GST reporting is CASH, then this transaction will not show up on the GST report as no payment has been made. If GST reporting is ACCRUAL then is should be showing.