workcover refund (how to enter the gst part )
Julie Wearing
Member Posts: 3 Novice Member
received a refund cheque from workcover. I have tried to enter this as make deposit, but this way is not allowing me to record the gst part of the refund
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Comments
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Sales receipt1
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Charles is right Julie - you need to enter this as a Sales Receipt... or if you are on accruals and want to show the reduction in fee in the previous financial year - then do a Tax Invoice for 30 June, then receive the payment against it on the correct date.0
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Sorry if I'm appearing a bit thick the accountant who set up my Chart of accounts has put workcover as a supplier does it make any difference if I set them up as a customer too?0
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perfectly fine to have them in there as both - just put a . after the name - as they cant be exactly the same.0
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No need to set the supplier up as a customer.
Simply use the deposit slip and allocate to "Accounts Payable", then raise a Bill Credit, be sure to allocate the correct GST amount. Then go to pay bills and assign the bill credit to the deposit.
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