Processing aged invoices / GST implications

Question

Hi all - I've got some invoices to process for a past period (and final year - 31st March) and need them included in this upcoming GST return (June/July). How do I do this in AccountRight?  If I process them with a June 1st date, then they will automatically be included in the current GST period to be filed, but they won't be in the financial year in which they were incurred. We operate the invoice (accrual) method. Thank you

Genreve_S · Answer

Hi @Antoinette22,

Those in-between financial year transactions certainly could throw the values off. If you're on accrual GST, the invoice is usually reported based on the invoice date. So if you enter it with a 1 June date, it would normally fall into that GST period.

As these are older invoices from a previous period, it's best to check the correct date with your accountant or tax agent before entering them.

Regards,
Genreve