recording gst only
I need to process an invoice for GST only. We are the end user so we are liable for the GST payable for the use of a hire car following a vehicle accident. So the hire company invoice is $5500, Gst...
Forum Discussion
Hi chrissg3044
Sorry to see that no one has offered assistance with your query.
I hope you managed to get it resolved. If not, it sounds a bit like you might want to speak to your accounting advisor as it could be a case of doing the invoice for 5500, writing a portion of that off, and then making payment on the rest.
In saying that, as you have asked about a GST-only transaction, to do that you need to increase the amount of a transactional line by that and then offset that with a zero-rated tax code. For example, The first line of the following transactions generates the GST amount and then that is offset with the second line, going to the same account but with a zero-rated tax code. I would recommend speaking to your accounting advisor in regards to the accounts, amounts and tax codes involved in that process.
