Probably the most essential piece of information generated by EasyBooks is the GST Return.  Therefore it is vital to get it right in the beginning prior to entering lots of data only to find you have to go back and fix things up.

The key to the analysis of GST is the GST settings on each Ledger Code.  This is where you tell EasyBooks how to handle the GST on each transaction.
To change your Ledger Codes, choose Ledger Accounts from the Maintenance menu on the Cashbook main screen.

The system will display the following screen. 

If you click on the list button on the right of the field you will see that there are four available choices.  These options and their implications are discussed as follows.

Specifying this option tells EasyBooks that when you use this Ledger Code the amount on the transaction will include GST at a rate of 12.5%.  This option is used on Ledger Codes that specify any purchases or income that includes GST at 12.5%.

This option tells EasyBooks that transaction amounts used with this Ledger Code are exempt from any GST.  This is typically used for transactions like Bank Fees or Interest or other financial services that are exempt from GST.

This option is especially designed for businesses that are exporters as the GST setting for Export Sales is Zero.
Please note that Zero-rated is different to a supply being exempt from GST.
Exempt means that the business cannot charge GST on the goods or services but also cannot claim an input credit for GST paid on supplies purchased by the business.

The GST Zero rated option should only be used for those specific transactions like exports and is not suitable for transactions like Bank Fees or Interest which DO NOT contain a GST content and should be treated as exempt.

This option is designed specifically for importers.  When GST is paid to the Customs Department on the Landed Value of Imported goods this GST can be claimed and must be kept separate from GST paid for goods purchased locally.

It is very important to ensure that the GST criteria are correctly set-up in EasyBooks cashbook.
Access the Set-up menu via the GST Return button at the top of the main menu screen.

Provision is made for you to enter your GST registered name in case this is different to the user-registered name.
Enter GST number.
GST Return period
Select the period for which you are registered for GST.
GST Rate
Set the rate of GST to the rate required for your location.
Spare rates of GST are provided for situations where GST Registered businesses are able to pay GST on a composite rate to allow for the mix of GST-free and GST inclusive supplies they make.

Once you have entered in all the transactions for a particular GST period you can produce your GST Return.
This is done by choosing GST Wizard from the GST Return button on the main screen.

The system will then ask you to specify the period that you wish to produce the GST Return for.

Use the Red Arrows to change the selection of months and then click the OK button to continue.

The system will now proceed to complete the GST Worksheet.  You are required to work down the screen entering at each worksheet position.  There are various entries that must be entered as you work down the screen.  These include Fringe Benefits and Adjustments.  If you want to enter zero amounts for these fields then simply press the Enter key.  You must work down the GST Return to the bottom before you are allowed to print the return or audit reports.
When you reach the bottom a message will be displayed explaining your printing options.
To print the GST Facsimile Return, click the toolbar button at the top of the screen.

The GST Audit reports can be printed by clicking the toolbar button at the top of the screen.

Clicking this button will produce a GST Summary Report and a Monthly Statement Report.  These may also be obtained by selecting the various options under the reports menu on the main screen.
When comparing the various GST reports the totals on the bottom of the Monthly Statement should agree with the totals on the GST Summary Report that should match up with the amounts on the GST Return.  By comparing these three reports you can get a clear picture of where the figures on the GST Return come from.

You should print and file with your office copy of your GST Return the GST Audit Reports.
When you are audited for GST by the Tax Office you will then have the full audit trails for the GST Returns on hand to satisfy the GST Auditor.

Setting up GST.
Commonly asked GST Questions.