After Import many Expenses when viewed show: Amounts are "Out of Scope of Tax" What affect is this having on my accounts, GST returns etc?

When expenses are marked as Out of Scope of Tax, it means they do not have GST applied to them, brian. This can happen if the expenses are not considered taxable supplies or if the transactions don't require GST reporting. Let me provide you with additional information.

To see how this affects your accounts and GST returns, here's how:

1. Accounts: These transactions will still be recorded in your Profit and Loss statements, affecting your overall expenses and net income. However, they won't affect your tax payable accounts since no GST is calculated on these expenses.
2. GST Returns: Since these expenses are categorized as out of scope, they do not need to be included in your GST returns. They won’t impact the amount of GST you claim back or owe.

To ensure everything is set up correctly, I recommend reviewing the tax settings for these transactions. You can check the tax codes assigned to these expenses and make sure they align with the nature of the expenditures and compliance requirements. If you're uncertain about the appropriate tax settings for specific transactions, it might be helpful to consult with a tax professional to ensure compliance with local GST regulations.

Additionally, for guidance on setting up sales GST rates in QuickBooks Online, you can refer to the article: How do I set up sales GST/VAT rates.

Moreover, we've compiled a QBO guide containing resources to help our customers manage taxes and forms, including VAT, GST, and sales tax adjustments.

Feel free to reach out if you have any more questions or concerns about taxes. We're always here to assist you!