The Goods and Service Tax (GST) program accumulates income and expenditure to determine your GST liability.  This is a FREE program as part of the Advantedge Accounts system.  It requires the Debtors and Creditors, or Cashbook programs to provide the source transactions.

The program tracks and calculates the GST for each transaction. At the end of each monthly period, the program stores the GST values until the end of your GST period, which may be one, two, or six monthly).  At the end of your GST period, you can print out a report that contains all the necessary values for the GST 101 return form.

This is usually either Invoice, or Payments.

INVOICE BASIS.  This is based on the invoices you send and receive. You become liable for GST when you send, or receive an invoice.  The Advantedge Accounts system uses the Debtors and Creditors programs to accumulate GST Transactions.

PAYMENT BASIS.  This is based on payments you make and income you receive.  You become liable for GST when you send, or receive payments.  The Advantedge Accounts system uses the Cashbook program to accumulate GST Transactions.

You can select the required frequency, for your GST Period.  These are normally Monthly, Two Months and Six Months.  When using two, or six monthly returns, the program stores each of the monthly values for future reference.  All previous months values during a GST Period are printed at the bottom of the GST Summary Report.

Where the source transactions (invoices, or payments) are from is dependant on your GST Reporting Basis.  When you select either Invoice, or Payment basis, any created transactions are automatically sent to the GST program from the source programs.

If you are invoiced based for GST, the Debtors and Creditors programs provide invoice / credit transactions.  If you are payments based for GST, the Cashbook program provides expense and deposit transactions.

The program prints a GST Return report with a similar layout to the GST 101 Return Form. All you need to do is transfer the values from the report to the 101 Return Form. This report is printed after the period end to ensure the GST Period is completed.

You can print summary reports for any of your previous GST Periods.

This report lists all transactions that make up the values for current (monthly) periods GST Summary Report. Transactions are listed in the appropriate GST Type. E.g. Income, Zero Rated Income, Expenses and Zero Rated Expenses. This provides for easy checking if required.

You can print detail reports for any of your previous GST Periods, via the History report feature (below).

This allows you to print a complete GST Detail Report for any previous monthly GST period. It is similar to the Detail Report.