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Deductions from Settlement Payment
At the settlement of sale of a block of land, the amount deposited by the Settlement Agent included several deductions for Real Estate agent commission, land tax, Settlement agent fees, GST Withholdi...
Hi LearnerJan
When reporting a transaction in AccountRight for GST purposes the type of transaction plays a part on what side of the reporting it will be listed under. For example, if you record a Receive Money Transaction, with an expense account as a negative this will be reflective as a negative sales value on the GST reports as tax collected.
If that value is intended to be included as Tax paid it would need to be recorded on a payment style transaction i.e. as a Spend Money or Purchase transaction.
