Wrong entry for GST paid and GST collected

[CCindy]

Hi All,

I have a purchase of machinery for $2000 which includes GST amount of $181.82. After I entered my purchases, the GST amount should go to GST paid account but instead it went to Services income accoount.

And also, I received commission paid for our services rendered to our customer of $718 which includes GST of  $65.27 This GST of $65.27 should go to GST Collected account but instead it went to Sales income account.

Could you please help? I really appreciate your help.(I'm using MYOB AccountRight Basics 2015.4 exe)

[Aspire_Advice]

Hi @CCindy

Does this occur on every transaction you enter? Or just these two that you have mentioned? It sounds like your linked accounts for Collecting/Paying GST have been set incorretly.

You can check this by going Lists>GST Codes - select each relevant tax codes and ensure that the correct linked accounts have been selected for each, you can select the correct liability codes from the drop down lists.

You will then need to re-enter your previous transactions for the correct GST treatment to occur.

I hope this helps

Thanks, Sarah

[CCindy · Accepted solution]

Hi Sarah,

Thank you so much for your reply.
Yes, this occured in all the transactions that involved gst paid and gst collected. As long as is GST paid, it went to Services income account and if is GST collected, it went to Sales income account.

I had checked the linked accounts for collecting/paying GST and they both set correctly as follows:

Linked Acount for Tax collected -->2-3100 GST Collected
Linked Account for Tax paid--->2-3200 GST Paid

Any suggestions where goes wrong?

Thank you.

[CCindy]

Hi Sarah,

Thank you so much.

Is working now. I entered the transactions again and the GST paid and collected all went to the right accounts.

[Aspire_Advice]

Great to hear you sorted it @CCindy