GST: Set Tax Year & Longer Period Adjustment

Introduction

To set the tax year and longer period adjustment (LPA).

[GST | Open GST Return...]

1. Highlight the final taxable period to be set as your First Tax Year, eg. final taxable period 01 Dec - 31 Dec 2016.

2. Double click on the GST Returns highlight in step 1.

3. System will prompt you a dialog box.

4. Tick on the Tax Year to set a tax year point. See the screenshot below.

5. Click Save.

6. You can insert a column Tax Year, eg. Tax Year point set at 31 Dec 2016.

Note:
You can direct set the tax year without delete/purge the GST Returns.

Declaration of annual adjustment amount:

• Regulation 43 – in a GST Return for the second taxable period next following the longer period.

For example,

Assumed the tax year set on 31 Dec 2016, LPA should be declared in:

1) For monthly taxable period , the second taxable period is Feb 2017 and the submission is before or on 31/3/2017

2) For quarterly taxable period, the second taxable period is Apr-Jun 2017 and the submission is before or on 31/7/2017

[GST | New GST Return...] or [GST | Open GST Return...]

1. Process the GST Return.For example, process the Second Taxable Period (01/02/2017 - 28/02/2017).

2. LPA will tick automatically.(if you have set the tax year)

3. Suggested period to be adjusted for LPA.

Note:
User allow to overwrite the suggested period for Longer Period.

4. You can insert the LPA Date From and LPA Date To columns to check.

[GST | Print GST Listing...]

1. Select the Date From and Date To (eg. the financial year is 01/01/2016 - 31/12/2016).

2. Click Apply.

3. Click Preview.

4. Select the report name : GST Detail 4 - Mixed Supplies. Press Ok.

Page 1: GST Listing 4 - Mixed Supplies

Page 2: GST Listing 4 - Mixed Supplies