GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

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Contributing Cover User ColinS
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GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

I spent an hour on the phone with no resolution. The GST for my company is set at 9% and not 10% what do I do?

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Partner AlanT
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Re: GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

Hi @ColinS

 

To help understand this problem could you give us an example of where the GST is being calculated at 9%.

 

Regards,

 

AlanT

 

 

Contributing Cover User ColinS
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Re: GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

On all the invoices I create and on any receipts I receive. All the calculations are at 9%. When I go into the GST settings everything is set correctly and at 10%.

 

E.G. I create an invoice for a client and the GST field populates at 9% and not 10%

Partner AlanT
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Re: GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

Hi @ColinS

 

So if you create a new invoice for say $110, and the option called Amounts are is set to GST Inclusive, I would expect that the invoice would show that the GST amount is $10.

 

What figure do you get here?

 

Also, just to confirm, when you setup the account you did specify that you are in Australia?

 

AlanT

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Re: GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

Sorry, meant to attache this screen shot...

 

Screen.jpgAlanT

Contributing Cover User ColinS
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Re: GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

yes as per your screen shot ... if i create an invoice for 200 the vat amount comes up as 18.8  and not 20 as per the screen shot attached

Screen Shot 2018-10-23 at 12.37.15 pm.png
Contributing Cover User ColinS
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Re: GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

yes as per your screen shot ... if i create an invoice for 200 the vat amount comes up as 18.8  and not 20 as per the screen shot attached

Screen Shot 2018-10-23 at 12.37.15 pm.png
Screen Shot 2018-10-23 at 12.37.15 pm.png
Contributing Cover User ColinS
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Re: GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

the business is set up in austalia with an australian address and an ABN

Contributing Cover User ColinS
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Re: GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

Any idea as to how to fix this problem? Nobody in this blog seems to be able to help and when i call the ques are an hour long - when I get hold of somebody they dont know how to fix it.

 

I am tempted to cancel my MYOB and just get another accounting software provider as i cannot afford to spend more time on it

Partner AlanT
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Re: GST on my essentials is set at 9% ... why when gst is 10% how do I get this fixed?

Hi @ColinS

 

Your screen shot looks correct if you have selected the option to have the amounts as GST inclusive.

 

If you sell a product or service for $200 inclusive of GST, then the amount of $200 is already 110%.

 

The GST is 1/11th of the sale price, not 1/10th.  So the amount of GST in this sale will be $18.18.

 

Regards,

 

AlanT

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