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I am not currently registered for GST but will need to, come 1st July 2018. Will this change previous entries ? Do I need to start a whole new Essential account at the start of the new financial year ?
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A warm welcome to the MYOB Community Forum, I hope you find it a valuable resource.
When you register for GST, first of all, you need to activate your GST by clicking on your company name (top-right hand corner) >> Settings >> GST settings >> and select your options accordingly. You will use the same file that you have been using but now it will have the option to enter either GST Inclusive/ GST Exclusive transactions. Your transactions hereafter will have the ability to charge GST but will not affect the transactions that were entered previously.
Hope this helps. Please let us know how you go. We are happy to help.
Thank you Riena - Good news - I was afraid I would have to start a new database.