Accounting 5.0 can provide the figures for GST returns on a payments basis. Most organisations are registered on a payments basis, but check with IRD if you are unsure.

Note: to use GST functionality you need to activate it in the Set-up sheet. Under ‘Are you GST-registered?’ select ‘Yes’ and then click ‘activate GST formatting’.

It is possible to de-activate the GST module again, but this is not recommended once data has been entered.

To use GST functionality:

1. Enter GST defaults for each account in ‘Account List’

In the grey column, enter either ‘True’ or ‘False’. If transactions in the account usually have GST, enter ‘True’. For example, phone expenses would be expected to have GST (‘True’), while wages would not (‘False’).

This only sets a default, it does not eliminate the need for the user to assess the GST status of each transaction.

2. Assess GST status when entering transactions

In the Transactions sheet, once an value is selected or entered in the ‘Account #’ column, both ‘Account Name’ and ‘GST’ will fill automatically. The ‘GST’ column will show the default setting for this account, but it can be overwritten.

A bookkeeper must always check for each transaction whether it is liable for GST. Where the GST? field shows ‘true’ for an expense, for example, but the organisation does not have a GST invoice for the transaction, the user should overwrite this field to ‘false’.

The Transactions sheet will display the GST amount, and the transaction amount excluding GST in the respective columns depending on the value chosen in the GST? column.

Note that all reports, project, budget and grant allocations work on a GST-exclusive basis.

3. Get numbers for GST returns

The table in the ‘GST returns’ sheet will provide the numbers needed to file a GST return. All that is required is to enter the start and end of the GST period in the respective fields B4 and C4 (green).