GST Reporting and Verification

This software automatically tracks GST return values providing that you have set up all Aircraft Sales Groups, Item Codes and Expense Codes correctly.

To produce a summary report to assist you with your returns, select the GST Return Report from the Report Options list. This summary report will print the known accumulated GST system totals.

Important - The return report has various notes printed on it to advise you to verify the summary values by listing two other reports...

To verify the Return Report, list the GST Report (Sales) and GST Report (Expenses) to screen and scan through the transactions for the selected GST Return period (normally two months) to check for any abnormal transactions or any incorrect GST settings or values.

At the end of the Sales and Expenses reports you will find a block of summary totals. You should always compare the GST totals on these reports to the totals listed on the GST Return Report to confirm that there are no problems with the system configuration values.

If you have any major variances between the transaction reports and the summary report, then it is likely that there is an invalid configuration setting somewhere in the accounting system. Contact us if you need assitance in tracing any problems.