The Tax calculated for each line item is determined by the Tax Code selected. A Tax Code of "GST" for instance will assume that all amounts entered include GST at a rate of 10%, or 1/11th of the total entered. The calculated GST can be adjusted on most transactions: purchases, sales, cash payments and receipts.
If an invoice or receipt has been issued to you with GST exclusive amounts listed and GST totalled at the end, enter the transaction into Dealerlogic the same way by unticking "Amounts entered Tax Inc". The Tax Code selected will still determine the tax rate, but items entered this way with a GST tax code will have 10% added to the amount entered. The GST will be totalled and added at the end. Confirm the Total shown on the transaction window matches that of the invoice or receipt. |
Some transactions have components that do not include GST. Some examples might be insurance premiums (stamp duty does not attract GST) or grocery purchases (certain food items do not attract GST). To achieve the correct GST amount, either enter the taxable and non-taxable components separately with different Tax Codes. See Add Taxable & Non Taxable Components. Or enter the entire amount as GST and use the Tax Components button to manually override the calculated GST. See Manually Adjust GST. Note that this will result in the GST Input Credits not being equal to 1/11th of the taxable purchases; if this an issue (if you process your BAS via the ECI) manually adjust the taxable purchases value to equal 11 x the Input Credit total. |