Making a new GST Tax Code link to "GST Paid on Purchases" in Balance Sheet

Posted By Canada_2013 Sage over 7 years ago

Hi There,

I've just added a new tax code in Sage (GI - GST 5% included). I've edited the appropriate details through the magnifying glass such as "tax % = 5, Status = taxable, Included in Price = yes, Refundable = yes).

For some reason, when I go to the balance sheet and drill into "GST Paid on Purchases", the expenses I entered with a GI (GST included) code are not showing up in the balance. Is there something I'm missing here?

Thank you!

0 Richard S. Ridings over 7 years ago

Look up your invoice that you posted in Purchases, then select the Report menu, Display journal entry and see if it really hit the GST Paid account.
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0 RandyW over 7 years ago

Hi,

You may have missed setting up the linked tax account. Sales Taxes are set up in three places:

Setup | Settings | Company | Sales Taxes | Tax Codes
Setup | Settings | Company | Sales Taxes | Tax Codes | Assign Tax Codes
Setup | Settings | Company | Sales Taxes | Taxes (linked accounts)

An invoice tax code is assigned to a Sales tax, which can be assigned to an account.
G ->GST -> 2310 GST charged on Sales

Since an invoice record stores a version record of the tax codes used at the time the invoice was created, you may have to remove a problem invoice altogether, and re-create it.
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0 Canada_2013 Sage over 7 years ago in reply to RandyW

Thank you - I had assigned the tax details correctly, however I did have to go back and delete all of the old invoices and re-create them for the tax code to function properly.
Cheers
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Making a new GST Tax Code link to "GST Paid on Purchases" in Balance Sheet

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