Differing GST on 2 identical invoices.

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Differing GST on 2 identical invoices.

An invoice created this month for a debtor is exactly the same as last months only this time MYOB has calculated the GST as 1 cent less.

 

I don't want to have to add more entries just to adjust the 1c difference.  Is MYOB calculating it differently since last month?

 

 

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Re: Differing GST on 2 identical invoices.

 

 

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Re: Differing GST on 2 identical invoices.

Hi @Em_at_work 

 

We've recently made a change to how GST are calculated in Essentials Accounting. 

 

In the past GST are calculated using the taxable supply rule principle, GST is calculated on each transaction line then added up. Now GST are calculated using the total invoice rule, which is calculated based on the total taxable amount. 

 

While both rules are allowed by ATO, we believe the current method would work better. I hope this answers your question.

Cheers,
Clover

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