Goods & Services Tax Report (#701)

This report shows all supplier and cash management transactions that have been assigned goods and services tax (GST inputs). It then lists all sales related transactions that have charged GST. The format of the report is:

If other taxes have been charged in the specified period, these are also included on the report.

Customer Account

Leave blank to include all customers for the specified reporting period. Specify a customer code if you wish to produce a report for a single customer only.

Category

Leave blank to include all customer categories for the specified reporting period. Specify a customer category if you wish to produce a report for a single category of customer only.

Account Type

 Indicate the account type (grouping) to report on. The default is to include all customer accounts except internal accounts.

Supplier Account

Leave blank to include all suppliers for the specified reporting period. Specify a supplier code if you wish to produce a report for a single supplier only.

Category

Leave blank to include all supplier categories for the specified reporting period. Specify a supplier category if you wish to produce a report for a single category of supplier only.

Account Type

Indicate the account type (grouping) to report on. The default is to include all supplier accounts except internal accounts.

Reporting Basis

This may be set to accrual or cash. The default is accrual.

If you intend to use the cash basis for reporting tax you should consult the topic Cash & Accruals for an overview of the issues related to this type of accounting.

Exclude When Tax is Zero

Select to exclude listing customer invoice sales, invoice adjustments, etc., when the transaction is GST free. It will also exclude listing any GST free items. Any item assigned a zero or blank tax rate is considered by the report to be GST free.

This option may be useful if your business activities are primarily GST free and you only wish to list sales transactions where the tax value was not zero.

This option does not alter the listing of supplier or cash management related transactions. Only transactions that have been allocated tax are listed in the GST inputs section of the report.

Detailed Purchases List

Select to include a detailed purchases list on the report. If this option is selected, the tax category break-down for each stock receipt and delivered purchase order is listed on the report.

You cannot produce a detailed purchases list if you are reporting using the cash basis as there is then no direct correspondence between the items purchased in one period and the GST paid out.

Important: The purchases list should be used for data entry cross-check purposes. It is provided to help you review the tax rate assignments made to stock items and whether purchase orders and stock receipts are being correctly entered in your system with regard to GST.

It should not be used as the basis for reporting to the Taxation Department. The purchases list generally does not include non-stock related acquisitions (such as rent, telephone charges, etc.) and may contain a mix of tax exclusive and tax inclusive purchases. Instead, use the BAS Assist Report to help you calculate your creditable and non-creditable acquisitions.

Lay-By's And Cash Orders

The information shown on this report in relation to lay-by's and cash orders depends on the tax calculation method selected in INSTALLATION Workshop. If the system is set to calculate tax on deposits and follow-up payments, the initial lay-by or order value is treated as not taxed. The sale value of items ordered or lay-byed are shown in the "TOTAL LAY-BY/ORDERS" line at the end of the report.

Hints & Tips

• The S column on the supplier transaction section of the report will list "S" under it if the transaction was created through supplier entries and a "C" if created through the cash management system.

• Assignments (such as journal entries) made directly into the General Ledger do not appear on this report. This is a "sub ledger" report which consolidates information entered through the customer, supplier and cash management systems only.

• Direct entries (postings) made to the GST Sales/Payables account through either the supplier entries or cash management systems do not appear on this report. All income that incurs GST must be placed in the system as an invoice or similar transaction.

• It is useful to run the Recalculate Invoices utility periodically to check for any overt problems in your sales files, such as corruptions that may have been caused by computer failures.

• If you receive an UNALLOCATED SUPPLIER PAYMENTS OR ADJUSTMENTS warning message, this indicates that payments may exist in the reporting range which are not assigned to any transactions. This means that their GST component cannot be resolved. Use the Unallocated Payments Report to list these incomplete entries. For more information on issues relating to unallocated payments, adjustments or credits consult the topic: Cash & Accurals.