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Changing tax status of company to now charging GST

Hayley McAnally

Our netball club now has to charge and collect GST. How do I change this so that income and expenses now have GST? Thanks

Comments

Graham Boast

Hi Hayley

You need to turn on the Tax Tracking Preferences in edit > preferences > Tax > Company Preferences. This shows GST on a Cash Basis (check your documentation - you could equally be non-cash (accruals)

You will also need to record your ABN in Company > Company Information.

This paper explains how to code up your transactions:

http://reckonhelp.com.au/Help/QuickBooksHelp/Understanding%20and%20Using%20QuickBooks%20Tax%20Codes....

Good Luck

Graham Boast 0409317366
Reckon Accredited Consultant
graham@reckonhelp.com.au
http://reckonhelp.com.au/remotesupport.htm