Bas in home & bus I cant get it to account 4 my income on line G1. I am getting expenses on G6 where it should be G11. anybody please? Mark

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I tried setting up my Bas in home & business but I cant get it to account for "only my sales" my income on line G1. For example I have an income of $880 inc GST and an expense of $750 Inc GST
When I have only income $880 ( I have not added any expenses as yet) it appears correctly in G1 G6 G8 & G9 1A 8A.
When I then add an expense $750 G1 goes from $880 to showing $130 (880-750) The other lines adjust based on the total sales figure now being $130
I have set up an account under "business" called Automotive MK (I think the system set up a folder called "tax control") and automotive MK sits under this. It says it is tax tracking.
My expenses are suppose to go to G11 but this is blank as it is saying my income is $130 not $880 and it is going as income as apposed to income & expense. 
My expense category is "business expense Motor Finance" when I split my expense of $750
When I complete the transaction it is "GST taxable." 
I must be making a simple mistake???
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Mark Korol

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Posted 2 weeks ago

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Sounds like you may have used the wrong code in your expense transaction.  I think you will find that it should be NCG if it was a non capital expense, you may have put GST instead.

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Kim Chapman - COS Business Solutions, Accredited Partner

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Hi Mark

That is most probably caused by you having the incorrect tax codes on the expenses with GST you should use codes NCG (for Gst purchases) OR NCF (Free). Your sales sound correct as GST OR FRE.

Hope this helps.

Kind regards
Kim Chapman
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Mark Korol

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Genius Kim! Thank you that fixes that. All good now
Is there a simple way to link an invoice to my Automotive Account? I have set up the invoice but it wont feed directly to that account. If I can solve that I am set up "completely"
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Robyn Kelly, Accredited Partner

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Mark you can't link an invoice to an account in H&B.  An invoice is just a form within the program that you are able to tick if it has been paid or not.  Once you receive the funds you need to also deposit the money into the appropriate account and split the transaction to account for the GST.
Hope that helps
Regards, Robyn Kelly
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MARK Korol

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Thx Robyn appreciate you taking the time to help. In a way I am happy as I wasn't doing anything wrong. Again thx
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  • EXP - GST Free Exports
  • FRE - GST Free Supplies
  • GST - GST Taxable Supplies
  • CAG - Capital Acquisitions - Inc. GST
  • CAF - Capital Acquisitions - GST Free
  • CAI - Capital Acquisitions - For Making Input Taxed Supplies
  • NCG - Non-Capital Acquisitions - Inc.GST
  • NCF - Non-Capital Acquisitions - GST Free
  • NCI - Non-Capital Acquisitions - For Making Input Taxed Supplies
  • ADJ - Adjustments
  • INP - Input Taxed Supplies
This might help.
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Mark Korol

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thx Astro I knew it would be simple and so logical once I have been shown
All good now