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Greengran's avatar
Greengran
Cover User
4 years ago

Bulk change of GST codes after deregistering for GST

I have just completed deregistering for GST for our small business because we do not reach the $75k threshhold.  I have had it confirmed by the ATO.

Is there a way to change all the Tax Codes to N-T rather than doing them individually?

 

Thanks!

 

  • Jesh_D's avatar
    Jesh_D
    4 years ago

    Hi Greengran 

     

    Thank you for your post. 

     

    If you were wanting to have every transaction reflect the changed GST code, then you would have to amend each individual transaction. Unfortunately, AccountRight doesn’t have a bulk update feature so if you needed to correct the GST codes on various transactions you would be doing this one transaction at a time.

     

    Alternatively, if you were focused solely on the amounts you may want to consider recording one or more journal entries to correct the GST codes. If you aren’t sure on the journal entry, then you may need to speak to your accountant for guidance.

     

    Please let us know how you get on or if you have further questions.

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  • Jesh_D's avatar
    Jesh_D
    Former Staff
    4 years ago

    Hi Greengran 

     

    Thank you for your post. 

     

    If you were wanting to have every transaction reflect the changed GST code, then you would have to amend each individual transaction. Unfortunately, AccountRight doesn’t have a bulk update feature so if you needed to correct the GST codes on various transactions you would be doing this one transaction at a time.

     

    Alternatively, if you were focused solely on the amounts you may want to consider recording one or more journal entries to correct the GST codes. If you aren’t sure on the journal entry, then you may need to speak to your accountant for guidance.

     

    Please let us know how you get on or if you have further questions.