Can the Nett figure be carried through to the 'Gross' Column without the 'Add Time/Costs' being tic

Karen_7662872
Karen_7662872 Member Posts: 6
edited April 2020 in Accounts Hosted
We create invoices from the Add Time/Costs function, and I'm wondering if there is a way to bring through the amount to the 'Gross' column that includes the GST (not the nett amount) without having the 'Add time and Costs' box ticked as we add this on as our mark-up at this point. We use one item that has been set up 'Material", and we enter the description manually, but because the prices are never the same, I can't set up a price to carry through when entered initially. Hope this makes sense

Comments

  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited April 2020
    Hi Karen
    If I am reading this right, the answer is no, when creating invoices from AddTime/costs is has to be nett, because there is no gst on time/wages, and your costs are excluding gst, when entering a purchased item or expense the transaction is split, net to your expense account (P&L) and the gst to the gst account.

    once the invoice is created with the net figure it then add gst to the costs.  You can edit the template so it shows nett column, gst, gst $, and an amount column which has the gross (including gst) figure.

    As to markup you can add billing rate to employee profiles and suppliers, markup to inventory items, if you don't track inventory use non-inventory part, use for asseblies or subcontractors and you can enter the purchase price and a selling price.