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Clinton_ELA's avatar
Clinton_ELA
Experienced User
3 years ago

Balancing GST Reconciliation account due to Subcontractor Payments

We has two Subcontractors set up in Payroll which was pay monthly a fixed amount, plus Super and GST.   The full payment happens through Payroll including the GST amounts.   The GST amounts are l...
  • CloverQ's avatar
    CloverQ
    3 years ago

    Hi Clinton_ELA 

     

    For that you do need to speak with your accounting adviser to discuss the best option/timing to fix it. Until it's resolved, your GST reports of that period will not reflect the GST amounts paid to your sub-contractors. 

     

    You may consider recording journal entries (under your accountant's advise) to reverse the total GST paid so far, then re-record it correctly as a GST only transaction using the guide I linked above. 

     

    I hope this helps.