GST included in Reports?

[SarahC]

Hi,

Does anyone know if MYOB reports like the Profit and Loss report show the sales totals as GST inclusive or exclusive?

Thanks

Sarah

[CathieR]

Sarah

The Profit and Loss is GST exclusive...ie net of GST.  In the Australian, version that is.

[Julie_A_C · Accepted solution]

Hi Sarah

The profit and loss will be GST exclusive in any version as this is not an income or expense of the business, it is money you have collected for the tax man and are holding on his behalf until you send it off to him, therefore this portion of money spent/received is shown in the balance sheet only as a liability/negative liability.