GST & Reporting
IVDH
Member Posts: 2
Hi. We have entered GST payable on purchases . However, when I look at the Sales & Purchases Tax Report, Purchases Subject to GST comes up as $0. How do I link these figures
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IVDH
Member Posts: 2
Hi. We have entered GST payable on purchases . However, when I look at the Sales & Purchases Tax Report, Purchases Subject to GST comes up as $0. How do I link these figures
Comments
Hey @IVDH. Have you made sure that you've listed the Sales Tax that you've created as recoverable? If so, this should show up in the reports section based on the transactions you associate that specific tax with: https://support.waveapps.com/hc/en-us/articles/208623426-Taxes-Recoverable-vs-Non-Recoverable -- if you have already set this up as recoverable please let me know and I would be happy to look into this further for you.
Thanks so much for your help to date @JamieD. We have receipts that have been photographed and uploaded to >Purchases>Receipts. It has picked up that GST was charged on the purchase, however it has noted against Sales Tax(as in our Receivable Tax), rather than GST Recoverable. is there any way to edit the receipt so we are able to report the Recoverable Tax
What I did IVDH, was create a new tax and called it GST (Input) . . . you could name it whatever you like to distinguish it from income GST . . . and as mentioned, check that box as recoverable.
You SHOULD be able to then go back into you receipt and edit the tax to the GST input one.
Leave GST as in the list as the GST charged on invoices only, and the recoverable box unchecked.