GST Adjustments
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    GST Adjustments

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    Article Summary

    GST Adjustments

    Overview

    GST Adjustments are occasionally required for making adjustments for: 1 Personal use of business assets 2 Adjusting the amount of GST claimed in prior periods which has not been reported on

    the Business Activity Statement (BAS) or the Goods & Services Tax Return

    3 Rounding Adjustments (only whole dollars are reported on the BAS).

    The GST adjustment screen is accessed by clicking on ‘Costing / GST Adjustments”

    The following screen appears

    Rounding Adjustments - how to process and the GL entries

    Misc Adjustments - how to process and GL Entries

    Personal Use - how to process and GL Entries


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