Do I need to make GST adjustment after issue an credit note for previous invoice?

[Winnilo]

Our GST is on a payment basis.

We have filed GST for September, but recently in November, we realized that we had issued the invoice to the wrong customer name. And we issued the credit note back to the wrong account in November and applied it. At the same time, we issue the new invoice under the correct name. Now, this invoice is still waiting for payment. The GST amount is $57 New Zealand Dollars.

So my question is:

Do we need to make any adjustments to IRD for the GST period September which has been filed? And How? Can we make this adjustment in the December period as we are filling every two months? Also if we receive the payment in November,  should we recognise this GST on total sales and income in GST101A? 

[SamaraM]

Hi @Winnilo 

Welcome to the Community Forum. Generally, if you make a mistake on a previous IRD filing, then you would be looking at amending that filing.

As each business is different, we would highly recommend that you consult your accountant or the IRD regarding the best way to record these transactions and to ensure you are meeting all your tax obligations in this situation. 

Once you've done so, if you have any queries regarding how to record it in the software, we'd be more than happy to assist.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.