Initial GST setup by Readysell
Readysell will help you prepare your initial gst position as follows:
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Run a general ledger report showing your general ledger GST GST receivable and payable as at the conversion date on a accrued basis
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- The cash basis GST payable
- The Cash basis GST Free for Payable
- The cash basis GST receivable
- The Cash basis GST Free for receivable
If the (general ledger accrued basis gst payable - general ledger gst receivable balance) is less that than the cash basis gst report (cash basis gst payable - cash basis gst receivable balance)
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If the (general ledger accrued basis gst payable - general ledger gst receivable balance) is greater that than the cash basis gst report (cash basis gst payable - cash basis gst receivable balance)
- The general ledger accrued basis GST receivable - cash basis GST receivable
- The general ledger accrued basis GST payable - cash basis GST payable
- Extact Extract a GST batch and include the two GST items above in the batch. Then post the batch.