GTS and BAS
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I am having a problem on how to add an extra GST component.for example, we use UberEATS as our delivery partner for our store.Each week they pay us our sales less their fees and percentage.This is a breakdown of one of their weekly payments to us:Total Weekly Sales $4,420.15UberEATS Fee -$1,547.49Net Sales $2,717.73UberEATS Marketplace Adjustment $244.94GST on UberEATs Fee -$154.93Miscellaneous $0.00Order Error Adjustments - week of 6/24/19 $0.00Order Error Adjustments - week of 6/17/19 $0.00Total Payment $2,962.67 (THIS IS WHAT IS PAID TO US)What we see in quickbooks is a bank transaction of $2962.67 credited to our account.What i need, is how do I add/capture the $154.93 as a GST component, in order to reduce my quarterly GST obligation. This roughly equates to $1000 per month which i can reduce my GST obligations by.I hope this makes sense.ThanksMark.
IAS for Jan already lodged with tax office.
I did the registration on 1 July 2019. So sales invoices before this date not involved GST. So what should I do for recording?
If I raise and invoice for $110 (inc GST) the affect on the General Ledger isDR Account Receivable $110CR GST Liabilities Payable $10CR Sales $100this makes senseWhen I make a purchase $110 (inc GST) I see something like thisDR Expense $110CR Cash $110When I would expect something likeDR Expense $100DR GST Paid, pending BAS $10CR Cash $110Have I setup something incorrectly? Am I thinking about this wrong? How is it meant to work?
HiFor the last 12 months I have been processing my GST refunds from the ATO incorrectly. When the refund amount has come up for review in my bank feeds I have allocated it to another account as apposed to recording refund via the GST tab. To correct this I have gone into the account history and deleted all these transaction and added them as a 'record refund' in the GST tab.Unfortunately now when I go to reconcile it states that my beginning balance is out by -$3724 which is the balance of the 10 figures I deleted.Can someone please help me with how to rectify this?Thank you
