Small business (unregistered for GST) and need to record the GST in supplier invoices

Shane Crozier
Shane Crozier Member Posts: 3
edited July 2020 in Reckon One
Hi - 

New to Reckon One and needing to know how to record the GST component of supplier invoices, doesnt seem to be a way to do it unless we select "Register for GST"  - our turnover is likely to be less than required to registere....

I would have added an item to a non-current liability a/c but not sure how Reckon works under the hood.


Comments

  • Felicity Bleckly_10462754
    Felicity Bleckly_10462754 Member Posts: 43
    edited July 2020
    In MYOB there was INP which stood for input tax so you used that code. Look for something similar in reckon with 0% tax so it doesn't calculate as a tax you have to pay. But I'm not really sure how reckon games it. Google reckon input tax and see what they suggest.
  • Acctd4
    Acctd4 Accredited Partner Posts: 3,314 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited July 2020

    Hi Shane

     

    (Unless Reckon One is different to Reckon Accounts/Hosted) ….. if you’re not GST-Registered, you just post the whole of the Supplier invoice to the relevant Expense/COGS account.  The GST component is only reflected if you yourself are also GST-Registered  :)

     

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    www.accounted4bs.com


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    [email protected]

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)