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pandw's avatar
pandw
User
3 years ago

GOI & the GST Return

Hi,

 

I have imported some product, and need to include the GST on Imports in my GST return.

 

I'm using MYOB essentials, payments basis.

 

I would like GST on Imports to show in my GST Return or GST Report

 

After 3hrs on hold with MYOB, all they could suggest was read the helpfile https://help.myob.com/wiki/pages/viewpage.action?pageId=51806723#expand-2Recordingtheoverseaspurchase.

This MYOB helpfile online seems to be for invoice basis people, and a bit onerous, without really solving the issue of wanting to be able to read off the GST adjustment from the standard return.

 

So, two questions:

1. How does the GOI code work?

2. Is there a simple way to get the GST adjustment to show up on the standard GST return/report, and then copy it to myIR?

 

Thanks.

 

 

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    3 years ago

    Hi pandw 

     

    Thanks for your post. In that Help Article, Recording overseas purchases and import costs (NZ), there's instructions for recording this if you're using the payments method in Step 2. Recording the overseas purchase:

     

    Using the payments basis?

    If you're not creating bills but you're accounting for the GST on imports at the time of payment (e.g. via a bank feed), you can simply allocate the GST at the time of payment directly to the GST Input Tax Adjustment account.  The initial entry to GST Paid to Customs (as shown in step 2 above) and the subsequent journal entry described below in Task 3 'Transferring the GST' does not need to occur. 

     

    Please let me know if you need further help.

     

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

    • pandw's avatar
      pandw
      User
      3 years ago

      Thanks.

       

      But it doesn't really answer my questions - how is the GOI code supposed to work? and is there a simple way to get the adjustments to show up on the standard MYOB GST report/return?