Forum Discussion

myob11's avatar
myob11
Contributing User
2 years ago

GST Detail Report

Hi there,

 

When running the GST Detail Report for calculating our quarterly BAS, I have noticed that in the N-T part of the report, not all our transactions are appearing.

 

The transactions missing relate to where money has been transferred from Bank Account 1 to Bank Account 2 and vice versa. In this screenshot you can see the first line 'Transfer to Agri' which was an $8000 'purchase' (from account 1 to 2), however it does not show the $8000 'sale' (i.e the money appearing in bank account 2).

 

I hope this makes sense, and that someone can explain why this happens. Of course this does not affect the BAS however my question is more to understand why these transactions are not included in this report - perhaps I am entering incorrectly (currently entered as spend money / receive money rather than a transfer). I am new to book keeping so like to understand why/how things are working.

 

Let me know if I can provide more information.

  • Celia_B's avatar
    Celia_B
    MYOB Staff
    2 years ago

    Hi myob11,

     

    Thank you for your post and welcome to the Community Forum.

     

    The tax code N-T is not reportable and thus, transactional lines marked with that tax code will not appear in the GST based reports. The exception to that is, if it is a reportable line on the transaction (GST) then you will report the N-T portion. 

     

    In terms of the Display in GST (BAS) reports option in the Record Journal Entry it is a required field for those transactions recorded via this window to denote how AccountRight will display the transaction. However, for those transactions that are not N-T transactions (all transactions have N-T as their tax code) then that selected option will not impact the GST or BAS reports. 

     

    I hope this helps. If you need further assistance with this, feel free to post again. We are happy to assist you. 
     

    Best Regards,

    Cel

     

    • myob11's avatar
      myob11
      Contributing User
      2 years ago

      Hi Celia,

       

      Thank you for your response, I appreciate you taking the time to try to help. Unfortunately I am still a little confused.

       

      All the transactions that were included in the screen shot are marked with the tax code N-T in their corresponding entries. This is why I'm confused that only one part of the transaction appears in this report.

       

      Even though these transactions do not affect our BAS, when running the report we choose to show all transactions marked N-T to ensure there has not been a mistake in entering data. However, it is not showing all entries, even if they are not reportable. This gets me a little worried that there may be other transactions it is not showing.

      As I tried to explain in my first post, if the report is showing all N-T transactions there should be two - a 'purchase' for $8000 then a 'sale' for $8000 but it is only showing one half of the transfer.

       

      I hope I'm explaining properly?

       

      Thanks again

       

  • Celia_B's avatar
    Celia_B
    MYOB Staff
    2 years ago

    Hi myob11,

     

    I just want to check back on you, Please let us know if your issue is resolved. We simply wanted to ensure that we addressed the issue correctly. And if you need further assistance or if you have other questions or concerns, don't hesitate to reach out to us anytime.

     

    Thanks, 

    Cel

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.