Working out current GST Turnover for job keeper

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Working out current GST Turnover for job keeper

Hi

I am trying to find a report that will work out Working out current GST Turnover per month

 

I tried GST/Sales tax gst summary but it says i cant do it for previous financial years.  

 

All help welcome  Thanks  Rhonda

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Re: Working out current GST Turnover for job keeper

Great Question! I am also hoping someone might be able to help with this?

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Re: Working out current GST Turnover for job keeper

Going through this now - you cannot print reports from closed years - you have to restore a backup.

 

MYOB told me this has always been the case but I know that year-on-year I have printed reports to do comparisons for the business.

 

 

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Re: Working out current GST Turnover for job keeper

Hi Rhonda.

I did it exactly the same way. The filter allowed me to change the dates.

I used Reports-GST/Sales Tax-GST Reports-GST Summary(Cash) and then the right hand window has the date filter in it.

For curiosities sake I tried it for March of 2018 - and got the error message. Maybe need tech help with this one?

Good Luck

Angie

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Re: Working out current GST Turnover for job keeper

Hi,

 

I am trying to work this out too (with very little experience).

 

I have looked at the GST Summary Cash - should I be looking at Sale Value less Tax Collected to determine GST turnover?

 

Thank you.

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Re: Working out current GST Turnover for job keeper

Hey Newbie

I plan on using the information I create every month for our BAS returns which is the GST summary cash report

I try to use existing procedures and reports because I am already familiar with them

Remember to breathe and keep asking questions Smiley Wink

Angie

 

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Re: Working out current GST Turnover for job keeper

Hi @CoreWa 

 

If your current financial year is 2020, you could run the Profit and Loss Last Year Analysis report and select the periods you wish to compare.  Eg January to March.  This report will be an accrual not a cash report.

 

The notes for JobKeeper do specify that there are a number of different ways you can use to establish that the business has suffered a 30% down turn, so if you report your GST on a Cash basis, you may need to go back to your previous years BAS reports and use the G1 figure from them.

 

Or if you have a backup of your data file before you rolled over, restore that to your local drive and run the report for last year from that copy of the data.

 

Hope this helps,

 

AlanT

 

 

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Re: Working out current GST Turnover for job keeper

I agree. Surely MYOB can allow us to looks at the last year's comparable month?!

We shouldn't have to revert to opening backup versions to try and get a figure.

Is there not a fix possible to allow getting GST Summary Cash March 2020 AND then a new report for March 2019?? thank you Smiley Happy

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Re: Working out current GST Turnover for job keeper

Hi @kalbrechtsen 

 

Certain reports are limited to being to run for certain periods. If the report you were looking to run could not be run for a specific period, then if you were using AccountRight you would have to restore an older version of the file that allowed that report to be run on the desired period.

 

That said I’d recommend having a look at Alan’s post on this thread where he discusses some of the methods and reports that can be used to calculate the downturn,

Regards,
Neil

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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Re: Working out current GST Turnover for job keeper

Hi AlanT 

 

I am still in the Financial Year 2019 and report GST on a Cash basis for the BAS so can I use the Profit & Loss (Cash) under the heading Small Business Entity to calculator the GST Turnover for April 2019 & 2020 as this report shows the Gross Income less GST.   Is that correct?

 

Thanks in advance

BKay

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