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Reports inclusive of GST

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CMPNG
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Reports inclusive of GST

Hi,

 

I have been trying to find a solution for this problem, and am hoping you can help me find a way to do this in MYOB.

I work for a donor funded organisation in a developing country, and a lot of our funding comes from grants. These grants come from various places including foreign governments and philanthropic foundations, but one thing they have in common is the need for financial reconciliations at the completion of the grant - how did we spend the money they gave us, and does it line up with the original agreement?

For the most part, this is a matter of tracking the grant as a category (our cost centres are tracked in jobs due to hierarchy and the need to be able to perform internal sales/transfers from one cost centre to another), and then producing a Category P&L Statement.

However, while GST is not technically an income or expense, we cannot rely on being reimbursed for the GST we pay - remember we are in a developing country, and theory does not always turn into practical.

 

What we would like to be able to produce is something similar to this:sample.png

That way, we can easily show the donor agency how their funding was spent, and why we didn't come in at 10% under budget.

The above was created with excel, which is workable, but not a good solution in terms of data integrity or security or user permissions.

 

If there is a way to do this, please let me know.

 

D

1 REPLY 1
CloverQ
MYOB Moderator
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MYOB Moderator
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Re: Reports inclusive of GST

Hi @CMPNG 

 

I'm afraid that AccountRight currently doesn't not have the ability to generate a report in the particular format you are after. Please do keep in mind that AccountRight is built in accordance to Australian and New Zealand regulations only, it does not cater for foreign country regulations.

 

The Category Balance Sheet report would show the total GST collected and total GST paid within the financial year, combined with the Category P&L report it would tell the full story. If this does not suit your needs, then I'd suggest exploring the available add-ons that connects to AccountRight, some of them offers advanced reporting customisations.

 

I hope this helps.

Kind regards,
Clover

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