ann75
3 years agoExperienced User
manually Adjust gst for asset purchas
Hello,
I had a question regarding GST adjustment, because after the upgrade, we are not able to change the gst amounts in cases where GST is not 10%. I did see a few replies on splitting the expense into GST and GST free.
My question now is if a company asset(car) is purchased , lets say for $77000 and it is allocated to motor vehicle with cap code and gst $7000 which is the 10%. Howver the max gst that can be claimed is only $5000. As I cant manually change the gst amount as earlier-
Can I split the allocation as 1) motor vehicle-cap code-$55000 so that gst is $5000 and 2) motor vehicle- assign gst free code.
Would this work? Do let me know , thanks.