GST: Set Tax Year & Longer Period Adjustment

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

Set Tax Year

[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.

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

Longer Period Adjustment

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 Returns (LPA)

[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.

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 Listing - Mixed Supply (LPA)

[GST | Print GST Listing...]
Longer Period Adjustment (LPA)

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.
5. Press Ok.
Page 1: GST Listing 4 - Mixed Supplies
Partial Exempt-08 1.jpg

Page 2: GST Listing 4 - Mixed Supplies
Partial Exempt-08 2.jpg

See also