Thank you for visiting our Partner Zone. This area is an exclusive space for MYOB Partners. Find out how to Partner with MYOB.
I am learning accountright. But I have come across an error on my GST report. I made two part payments for an invoice in the same month. Eg. Paid $25,000 on 2/8/17 and paid $25,000 on 17/8/17. The full purchase price was $50,000.00 including GST. The issue I have is that on the GST cash detailed report it is showing $50,000 and GST portion of $6,521.74 on the 2/8/17 and the 17/8/17. So I am claiming the full GST portion twice.
I was expecting the GST cash detailed report to show $25,000 and GST of $3,260.87 on 2/8 and 17/8. So I would be only claiming what I have paid for.
What have I done wrong? I have checked that the purchase I entered is for $50,000.00.
Appreciate some help. Thanks
Solved! Go to Solution.
Could you go to the original purchase and check what the GST amount is shown on the bill.
If your purchase is $50,000 (Inc GST) and GST is charged on the full amount, I would expect the total GST amount to be $4545.45.
Working through your example using ClearWater, the report gave me the figures I expected, that is the GAT amount was $4545.45
Hope this helps you find the error. Let us know if you're still stuck.
My company is in NZ so GST is 15% here. The issue I have that if I make a part payment for a purchase, on the GST detailed cash report, It is showing as if I paid the full amount and so I am claim the full gst amount, not a portion of it.
Sorry, still stuck.
I just re-tested using the NZ copy of Clearwater and still got the answer I expected. Is this the same report you are looking at?
If so, then as I said above, have you checked that the GST that was calculated on the invoice is correct? Here is the invoice I generated:
Does this help?
Thank you for your help.
I deleted the transactions involved and then reentered them and it is now correct.
Not quite sure what I did wrong. But all sorted now.