• mudds
  • New member
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  • Registered: 04/21/2013
  • Posts: 6

Topic: Tax (GST) payments or invoice basis

Hi All

First apologies if this has been answered but I could not find a definitive answer.

In New Zealand we have 15% GST with companies opting for either invoice (tax payable or claimable on invoice) or on payments basis. I am guessing this is a reporting issue only

Turbocash has an option to select one or the other but I can't see that option in Front accounting. Can anyone explain how to do it?

Thanks
Andy

  • From: New Zealand, Auckland
  • Registered: 10/15/2011
  • Posts: 40

Re: Tax (GST) payments or invoice basis

Hi Andy
I added a module 'tax report (cash basis)' to handle the payments basis. I use it for a couple of NZ companies and an Australian one. It adds an summary totals inquiry screen to the general ledger and banking menu to show the total gross or net sales and purchases and total GST collected and paid, and a detailed report to show the transactions that make up those totals.
The transactions are selected on the date the cash was received for any sale and the date payment was made for any purchases.

Alastair

  • mudds
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  • Registered: 04/21/2013
  • Posts: 6

Re: Tax (GST) payments or invoice basis

That's great Alastair, thank you for the quick reply and your hard work.  Front accounting certainly seems to have a very active support forum.

Still waiting on a Turbo cash question after a week so Front accounting is looking like a better option.  Php multi platform is fantastic.

Cheers
Andy

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: Tax (GST) payments or invoice basis

Wikied it.

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