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cash basis gst

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THE BOSS

Joined: 01-Jan-2006
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    Posted: 30-Nov-2010 at 03:16
Cash Basis GST Reporting
 

Here are the reports for Cash Basis GST:

 

In order to calculate GST Payable:

 

1.     Go to Report Transaction run GST Receipt Listing Cash Basis

2.     Go to Report Transaction run GST Invoice Listing Cash Basis

3.     If running Peach GL. Go to GL Report run GL Receipts GST. (Mostly this one is blank. But we should run the report and make sure)

4.     Add the Total amounts from the reports. Thats the Total amount of Sales on Cash Basis.

5.     Add the GST amounts from the reports. Thats the Total amount of GST Payable.

 

In order to calculate GST Credit:

 

1.     Go to Report Transaction run GST Payment Listing Cash Basis

2.     If running Peach GL. Go to GL Report run GL Payments summary GST

3.     Add the Total amount of both the reports for Total amount of Purchase

4.     Add the GST amount of both the reports to get Total GST Credit.

 

Regards


 

Susmita Ahmed

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