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koshyckoshy's avatar
koshyckoshy
13 days ago

"non-income" items classified as "income" on GST Reports?

Hi there   A director borrowed an amount from the company.   DR: Receivable (Director to repay): $1400        CR:                                    Cash at bank $1400            The money was...
Julia_Berkhout's avatar
Julia_Berkhout
Super Cover User
9 days ago

Hi,

The N-T code is for transactions entered but not reported on your BAS.

The GST report shows all transactions by all GST codes including N-T.

This allows you to check all transactions that are coded to the N-T tax code are correctly allocated that way prior to lodging your BAS with the tax office.

Hope this makes sense now.

You can re-run your GST reports after you check all transactions and exclude the N-T code from the report using customise report options if it does bother you. 

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