How do I record income so that my monthly report does not include the GST in the income but includes
Simon_9888144
Member Posts: 1 ✭
Certain items I sell include GST in their price. How do I record this income so that when I view my monthly report, the GST is not included in the total sales but is included in the monthy tax report?
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Simon. If you have got your items set up correctly with a GST code, the GST is automatically deducted from your reports e.g. sale of $110 would be split $100 to income and $10 to your Tax Payable Liability account. Either you will be using a Sales Tax Receipt or a Tax Invoice to record the sale. This is basic bookkeeping for sales.
John L G0
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