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ann75's avatar
ann75
Experienced User
2 years ago

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 expe...
ann75's avatar
ann75
Experienced User
2 years ago

Thank you Clover for your reply. For a regular business expense or purchase, its easy to split between the gst and gst free. But in the case where I mentioned, it is a car. So I have split the amount in to 2, one part to match the maximum gst I can claim. Howver for the remaning part of the car purchase amount for which I cant record GST, can i assign a gst free code to an asset. Is it a mistake to do this? or will be NTR?

CloverQ's avatar
CloverQ
Former Staff
2 years ago

Hi ann75 

 

I'm afraid that we are unable to advise which tax code to use exactly, if you are unsure please do check with your accountant for the correct code to use for your business situation.

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