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EmilyC's avatar
EmilyC
Experienced Cover User
6 years ago
Solved

Import Tax - 100%

Hi, can anyone show me how to enter a transaction in MYOB AccoungRight showing 100% GST?   We have paid oversea supplier on their goods with Nil GST; but we have received an invoice from Freight Co...
  • Julie_A_C's avatar
    Julie_A_C
    6 years ago

    hi EmilyC 

     

    When I receive the invoice from the freight forwarder I will enter it either as a purchase or spend money.  

    if the tax inclusive box is ticked prepare as the attachment.  The account used in the two lines for GST on importation (the positive and negative) is irrelevant, as long as they are both the same account, they will cancel each other out.  It is just for the purpose of getting the GST to flow through to the reports correctly.

     

    Please mark as a solution if this solves your query.

     

Julie_A_C's avatar
Julie_A_C
Ultimate Cover User
6 years ago

hi EmilyC 

 

When I receive the invoice from the freight forwarder I will enter it either as a purchase or spend money.  

if the tax inclusive box is ticked prepare as the attachment.  The account used in the two lines for GST on importation (the positive and negative) is irrelevant, as long as they are both the same account, they will cancel each other out.  It is just for the purpose of getting the GST to flow through to the reports correctly.

 

Please mark as a solution if this solves your query.

 

EmilyC's avatar
EmilyC
Experienced Cover User
6 years ago

This works prefectly!! Thank you so much.

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