You can view the following GST reports from the GST report group (go to the Reports menu at the top of your screen > Index to Reports > GST tab).
Want to change the look and content of a report? Learn about customising reports.
GST Report
Name | Description |
|---|---|
GST [Summary - Accrual/Invoice] report | This report provides a summary of tax or GST charged on invoices, bills (not necessarily collected or paid), cheques and deposits within a date range, sorted by tax or GST code. |
GST [Summary - Cash/Payments] report | This report provides a summary of tax and GST collected or paid from customer payments, supplier payments, cheques and deposits, and debit and credit note settlements for the selected payment date range, sorted by tax or GST code. The report displays only transactions that were entered in windows to which your user ID allows access. |
GST [Detail - Accrual/Invoice] report | This report provides a listing of invoices, bills (charged, but not necessarily collected or paid), cheques and deposits with the tax or GST amounts for the selected date range sorted by tax or GST code. The report displays only transactions that were entered in windows to which your user ID allows access. View transaction source Click any field to open the Sales or Purchases window. |
GST [Detail - Cash/Payments] report | This report provides a listing of customer payments, supplier payments, cheques and deposits, and debit and credit note settlements, with the tax or GST collected or paid, for the sele cted payment period, sorted by tax or GST code. The report displays only transactions that were entered in windows to which your user ID allows access. View transaction source Click any field to open the Pay Bills or Receive Payments window. |
Tax/GST Amount Variance report | Displays the difference between calculated and posted tax and GST amounts for selected transactions, sorted by code, dates and transaction type (sale or purchase). This report does not display any item that has a variance of $0.00 (for example, a tax or GST amount that may have been adjusted and then changed back to the original value). The report shows either the tax or GST amount variances for sales or for purchases. Click the Customise button and then select the Advanced Filters tab to choose to display Sales Variances or Purchases Variances. Although AccountRight warns against such changes, some transactions might require adjustments of GST amounts assigned. Because these changes possibly affect BAS or GST Return calculations, it’s useful to use this report to display all transactions with edited tax amounts, within the specified dates and tax codes. View transaction source Click a Date, ID No., Scr, Name, Tax/GST Basis, Rate or Posted Tax/GST to open the original transaction window. |
GST Code Reports
Name | Description |
|---|---|
Transaction Tax/GST Codes report | This report lists transactions and their related tax or GST codes: Account (the account’s default code); Entered (the code that was used in the transaction); and Default (the transaction’s default code before it was changed). You can use this report to determine if the tax or GST has been allocated and calculated correctly. If you want, you can add the field, Origin. This field displays the source of the Default tax or GST code: CUST - Customer Information window. ITEM - Item Information window. ACCT - Edit Account window. SUPP - Supplier Information window. View transaction source Click any field to open the transaction window. |
Tax/GST Code Exceptions [Cash Transactions] report | This report provides a listing of spend and/or receive money transactions with no tax or GST code or with a code that does not match the default one, for the selected period. View transaction source Click any field to open the Spend Money or Receive Money window. |
Tax/GST Code Exceptions [Invoice Transactions] report | This report provides a listing of sales and/or purchase transactions with no tax or GST code, or a code that does not match the default one, for the selected period. You can specify the default code that is used in the match as the one selected for the account or the one selected for the item (item sale or purchase), activity (time billing sale) or card (all other sales or purchases). View transaction source Click any field to open the Sales or Purchases window. |
Tax/GST Code List report | This report displays the tax and GST codes and associated information you’ve created using the Tax Code Information (Australia) or GST Code Information window (New Zealand). View transaction source Click any field to open the Tax/GST Code Information window. |
Reconciliation Reports
Name | Description |
|---|---|
GST Information Reconciliation [Summary] report | This report displays a list of linked GST collected/paid accounts during a specified period, with one line displayed for each GST code associated with the account. If there are any inconsistencies (for example, inappropriate transactions allocated to GST linked accounts) an “Out of Balance” figure will be displayed. This report only displays figures for the current financial year, taking as the opening balance of GST code linked accounts their closing balances from the previous financial year (which it assumes have been paid or received). If you want to create a GST Information Reconciliation report from a previous financial year, do this from a back up copy of your previous financial year’s company file. The report displays only transactions that were entered in windows to which your user ID allows access. View transaction source Click an Account number or Account name to open the Account Information window Click a Code or Description to open the Tax/GST Code Information window.Click an Actual Account Balance to open the Account view of the Find Transactions window. |
GST Information Reconciliation [Detail] report | This report displays a list of linked GST collected/paid accounts during a specified period. If there are any inconsistencies (for example, inappropriate transactions allocated to GST linked accounts) an ‘Out of Balance’ figure will be displayed. This report only displays figures for the current financial year, taking as the opening balance of GST code linked accounts their closing balances from the previous financial year (which it assumes have been paid or received). If you want to create a GST Information Reconciliation report from a previous financial year, do this from a back up copy of your previous financial year’s company file. The report displays only transactions that were entered in windows to which your user ID allows access. View transaction source Click an Account number or Account name to open the Account Information window. Click a Code or Description to open the Tax/GST Code Information window. Click a Date, ID No., Name, Rate, Tax/GST Collected or Tax/GST Paid amount to open the original transaction window. |
Other report groups
FAQs
What are the cash and accrual GST reporting methods?
GST amounts collected or paid can be reported to the Australian Tax Office (ATO) or New Zealand's Inland Revenue Department (IRD) either on a cash or accrual basis. In New Zealand, the cash basis is also referred to as the payments basis, and the accrual basis is sometimes referred to as the invoice basis.
The difference between these is determined by when the liability is recorded and when you report the tax/GST collected and paid.
Cash/payments basis: Using this basis means you will not pay any GST until you have collected it from your customers. You will also not be able to claim back any GST you have been charged by your suppliers until you actually pay your suppliers.
Accrual/invoice basis (non cash basis): Using this basis, you recognise GST when you receive an invoice, in other words when you have a legal obligation to pay your suppliers, and when you supply goods or services, in other words when you have a legal right to claim payment.
What is the difference between cash accounting and cash GST reporting?
Cash accounting records expenses when you physically pay your supplier, and income when you physically receive the payment.
Example: You may sell a TV today and not be paid for it for 60 days. Cash accounting would record this as income in 60 days when you were paid. On the other hand you may purchase a TV today and not pay for it for 60 days. Cash accounting would record this as an expense in 60 days.
In GST terms this means that you may bill a customer today for $10,000 plus GST. You are NOT liable to pay the GST liability until the customer pays you. It doesn't matter if you receive payment today or in 6 months time, you only pay the GST when you are paid. In the same way, you can only claim GST Input credits when you pay your suppliers.
Remember that the amount of GST you report is proportional to the actual payment made or received during that period.
What is the difference between accrual accounting and accrual GST reporting?
Accrual accounting records expenses when you have a legal obligation to pay, and records income when you have a legal right to claim payment. This is usually when you receive an invoice, or the goods or service.
Example: You may sell a TV today and not be paid for it for 60 days. Accrual accounting would record this as income today. You may purchase a TV today and not pay for it for 60 days. Accrual accounting would record this as an expense today.
In GST terms this means that you may bill a customer today for $10,000 plus GST. You are liable to pay the GST liability regardless of whether the customer pays you today, or in 6 months time. In the same way, you can claim GST Input credits regardless of whether you have paid your supplier today, or pay the supplier in 6 months time.
Can I record my transactions using accrual accounting and report GST on a cash basis?
Yes, your software generates both cash and accrual basis GST reports. At the end of your GST reporting period, simply choose the applicable report.
There is no requirement to record your transactions on a cash accounting basis to generate a cash GST report. The information required to report on a cash basis is sourced directly from the payment modules, in other words Chequebook, Supplier and Customer Payments.
You are unable to report GST on an accrual basis if you record transactions using cash accounting, in other words just using chequebook area. This combination is incompatible as the information required to generate accrual reports is not recorded when using cash accounting. Contact the ATO (Australia) or IRD (New Zealand) if you have any further queries in this regard.