Forum Discussion

RJ12's avatar
RJ12
2 years ago

Invoices that include GST and GST-Free Items - Tax Code ?

Hey, I've just started using MYOB and I was importing invoices (create bill function under Purchases tab) We are a restaurant business and so when I receive invoices from suppliers there are so...
  • Genreve_S's avatar
    Genreve_S
    2 years ago

    Hi RJ12, 

     

    Thanks for your posting, 

     

    I would suggest following Earl_HD and Richard1052's advice. 

     

    The GST values of an item could be edited by going to Inventory > Items > Name of item > Selling. This would set defaults for that certain item. 

     

    Also, when creating an invoice each item has an option to change the tax code.

     

     

    Let us know if you require any further assistance with this. We're happy to help. 

     

    Cheers, 
    Genreve

Richard1052's avatar
Richard1052
Experienced User
2 years ago

Hi,

 

What you need to do is go into the bill.

Select whether the figures you are using are GST exclusive or inclusive. Sometimes you may need to select GST inclusive so the payment to supplier is correct. Final GST amount can sometimes be a few cents different to supplier invoice due to rounding. I don't worry about this because when reporting to ATO, they only look at round numbers.

 

There is a table below that where  you can separate what is GST and what is GST free by selecting the Tax code. If there is freight, then I would separate that out as well. 

 

Hope that helps!

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    2 years ago

    Hi RJ12, 

     

    Thanks for your posting, 

     

    I would suggest following Earl_HD and Richard1052's advice. 

     

    The GST values of an item could be edited by going to Inventory > Items > Name of item > Selling. This would set defaults for that certain item. 

     

    Also, when creating an invoice each item has an option to change the tax code.

     

     

    Let us know if you require any further assistance with this. We're happy to help. 

     

    Cheers, 
    Genreve

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