Forum Discussion

mrco191's avatar
mrco191
Contributing User
3 months ago

Categories Tax Code

Hi, when I create a new category for accounts, i read online that i can enter the correct tax code when creating or editing. But there is no option and it just auto assigns some tax code. 

 

for example:  i created a new category for income. it just assigns N-T and there is no option to change it. Any idea?

7 Replies

  • DuncanS's avatar
    DuncanS
    Ultimate Partner

    mrco191 Genreve_S

     

    An Entity that is not registered for GST uses N-T for all transactions.

    GST on Purchases cannot be claimed - there is no BAS to complete.

     

    Duncan

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator

    Hi mrco191

     

    Thanks for breaking down your use case.

     

    Just a quick heads up: the app only gives you the option to choose tax codes across the board if you've got GST reporting turned on. Otherwise, it just automatically sticks with N-T for all transactions and accounts.

     

    If you think it should work differently, it might be worth tossing it up on the Ideas Exchange board for consideration in future updates.

     

    In the meantime, if you need a hand with anything else, feel free to start up a new thread.

     

    If my response has answered your inquiry, please click "Accept as Solution" to assist other users find this information.

     

    Thanks,
    Genreve

    • mrco191's avatar
      mrco191
      Contributing User

      Would I potentially get around this issue by temporarily checking that the business is registered for GST, then creating all the categories with my preferred tax setting and then unchecking the gst registration again? or would this cause any problems?

      • Liz_A's avatar
        Liz_A
        Valued User

        I don't use this particular version, but in other versions, I change the TAX RATE for the Tax Code to 0% for GST, so that once a business does become GST registered, it can be changed back to 10% for processing after the registered GST date.

         

        Cheers

        Liz

  • mrco191's avatar
    mrco191
    Contributing User

    Hey Mark, I am not registered for GST so that does not make sense. 

    What I want to change is the tax code of account categories, like the categories you are choosing when you have a new transaction.   let's say i did a service ( photography) and they paid me. or i created a invoice for that purpose. Selecting Sales 1 for example does not make sense as i am not registered for gst and sales 1 as a base of MYOB is under GST category. So i created a new category called Service ( I would like to set it up as GNR) but I cannot change the tax setting for this when creating or editing this category. It just assigns it N-T. The same for other things.I created a new category called software. It should be assigned GST as I am paying GST on it. But i cannot. It automatically assigns it N-T and there is no option to change it.     

  • Hi mrco191,

     

    I see you're encountering some issues with tax codes while creating a new category for accounts. Don't worry, I'm here to assist. If you're looking to alter tax codes, you'll need to navigate to Business settings >> GST settings, and select 'this business is registered for GST'. This will let you modify the tax codes for the categories you've created. For more details, you might want to check out this Help article: Tax code.

     

    Feel free to post anytime you need further assistance.

     

    If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information.

     

    Cheers,

    Princess