Contains some special tables to manage the tasks necessary for settling GST and reporting to the customs and tax authorities. You can use these tables to have the program:
calculate the GST due for a period
prepare and print the GST statement
print a list of sales to EU countries/regions (on paper or to a diskette)
The program creates an entry in the GST Entry table for each posted transaction that involves GST. These entries are used to calculate the GST that must be settled for a given period. When the calculation is to be done, you use a GST statement to specify how you want the program to calculate GST.
You can create several different types of GST statements in the GST Statement Template window if you need different forms. If you need different GST statements based on the same template, you create different names in the GST Statement Name window.
The GST statement itself is filled out in the GST Statement window. In this window you can choose to define the GST statement based on the accounts in the Chart of Accounts window or based on entries in the GST Entry table.
The GST statement is normally only defined when you are doing the setup for the rest of the program. There you set up the GST Statement window so that it suits the GST statement which the particular company must turn in.
After you have defined a GST statement, you can print it by clicking Actions, pointing to Functions, and then clicking Print. After you have printed and approved the GST statement, you can run the Calc. and Post GST Settlement batch job to close the open GST entries and transfer purchase and sales GST amounts to the GST settlement account.