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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 à Transaction à run GST Receipt Listing – Cash Basis

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

3.     If running Peach GL. Go to GL à Report à 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. That’s the Total amount of Sales on Cash Basis.

5.     Add the GST amounts from the reports. That’s the Total amount of GST Payable.

 

In order to calculate GST Credit:

 

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

2.     If running Peach GL. Go to GL à Report à 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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