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nickclev's avatar
nickclev
User
6 months ago

GST on import - NZ

Hi

The way the GST on imported goods works in MYOB seems strange.  Per the attachment, we pay GST on imported goods of $5992.65. Normally this amount would be allocated to Box 13 of the GST Return (Credit adjustments from your calculation sheet) of $5992.65.  No amount in the MYOB GST return appears and the bank transaction shows a GST amount of 50% of the $5992.65. Surely if I set up the GST code as 100%, the amount of GST should be 100% and should appear in the GST return in Box 13. In pevious message posts, the GST is worked around by grossing the amounts up but as this is GST on imports, it shoudn't be grossed up.  Is this an MYOB software issue that needs to be fixed? 

Thanks
Nick  

6 Replies

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  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    6 months ago

    Hi nickclev, 


    We understand how crucial it is for your taxes to be accurately recorded in your file.

     

    Thank you for your post and a warm welcome to our Community Forum. We're sorry to hear about the challenges you're facing in adding the GST for imported items. In MYOB Business, the GST return for imported items is managed a bit differently. Typically, you need to create one bill to document the overseas purchase and another bill to account for the import costs. We suggest going through the article titled 'Recording Overseas Purchases and Import Costs'. This will offer a comprehensive step-by-step guide to ensure the taxes are included in the GST return.

     

    Let us know if you require any further assistance with this.


    Thanks,
    Genreve

     

  • DorothyCorkill's avatar
    DorothyCorkill
    User
    2 months ago

    Hi Nick

    Did you resolve this problem ?

    We are facing the same issue at the moment & the MYOB work around is very confusing . 

    Regards 

    Brown Pennell (2019) Limited

  • jenniek's avatar
    jenniek
    Ultimate Partner
    2 months ago

    Hi DorothyCorkill  and nickclev 

    Is this in the web based version. In Accountright we code direct to the linked account for Box 13 with NO GST (N-T) on a different line. We stopped using the IMP code years ago. It never seemed to work. I haven't tried this in the web based version though - assume the same would work??

    • DorothyCorkill's avatar
      DorothyCorkill
      User
      2 months ago

      Hi Jenniek

      Our client is in MYOB Business Connected Ledger .

      We have some clients in Accountright & the Import GST works fine in that format . The problem we found is in the other MYOB product . 

      Will be interesting to see which product nickclev is having issues with . 

      • jenniek's avatar
        jenniek
        Ultimate Partner
        2 months ago

        Hi DorothyCorkill 

        Good to know - I haven't tried it with MYOB Business products - but I'll test it in my demo and see what happens

  • Mike_James's avatar
    Mike_James
    Ultimate Partner
    2 months ago

    nickclev  , I notice that in the attached PDF that the set-up for GST code "GOI" is shown, but the code used on the transaction is "GIS". Would that affect the result?