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Setup: Manually change GST Inputs to GST Outputs (or vice-versa)





2 Posts

Can you give an option to change the GST from I (Inputs) to O (Outputs) as in Banklink. 

There is no option in Essentials to do this and we have clients for example who are on the Hybrid basis for GST and pay their insurance then invoice a portion of that insurance to a related company who pay them for this.

The GST has already been included by the client in GST outputs as part of their invoices so when the insurance repayment is received it should have an O (Outputs) code otherwise if it had an I (Inputs) it reduces the total GST Inputs which would be incorrect. 

However we want the insurance receipt to still be coded to the insurance code so that is shows the correct net amount in insurance.

FYI Hybrid basis for GST the outputs are calculated on an invoice basis and the inputs are on a payment basis.

"GST - Manually changing Inputs to Outputs or vice-versa"