Checking for Incorrect Tax Codes with Transaction Types
It is very important what Tax codes are being applied to Transaction Types.
When selling or buying a product, the tax code is drawn from the default tax code that is on the Product. However, tax codes can be changed at the time the transaction is entered.
Miscellaneous transactions such as Supplier Credits etc the tax code can be stored on the General Ledger Transaction Type or it can be entered at the time of transaction.
The ATO have a list of Tax Codes and there appropriate BAS Code. The main ones are listed below however other Tax Codes can be used depending upon what Tax Code will apply to the transaction.
General ledger journals do not use Tax Codes and do not create a GST Item.
Below is a table listing the Tax Code,Value and BAS Code that apply to there Appropriate Transaction Types:
| Module | Tax Code | Tax Value | Bas Code | Transation Type | GST Item Y/N | GST Batch Y/N |
|---|---|---|---|---|---|---|
| Sales; Customer Transactions; Bankings | GST | 10% | G6 -Total Sales Subject To GST | SALINV | Y | Y |
| SALCRD | Y | Y | ||||
| CUSCRE | Y | Y | ||||
| CUSDEB | Y | Y | ||||
| SALMCI | Y | Y | ||||
| SALOIN | Y | Y | ||||
| CBKDEP | Y | Y | ||||
| SALWIN | Y | Y | ||||
| SRVINV | Y | Y | ||||
| Sales; Customer Transactions; Bankings | FRE | Exempt | G3 - Other GST free supplies | SALINV | Y | Y |
| SALCRD | Y | Y | ||||
| CUSCRE | Y | Y | ||||
| CUSDEB | Y | Y | ||||
| SALMCI | Y | Y | ||||
| SALOIN | Y | Y | ||||
| CBKDEP | Y | Y | ||||
| SALWIN | Y | Y | ||||
| SRVINV | Y | Y | ||||
| Purchasing; Suppliers; Bankings | INP | 10% | G11 - Non Capital Purchasies | PURINV | Y | Y |
| PURCRD | Y | Y | ||||
| SUPDEB | Y | Y | ||||
| SUPCRE | Y | Y | ||||
| CBKPAY | Y | Y | ||||
| Purchasing; Suppliers; Bankings | FOA | 0 Exempt | G14 - Purchases without GST | PURINV | Y | Y |
| PURCRD | Y | Y | ||||
| SUPDEB | Y | Y | ||||
| SUPCRE | Y | Y | ||||
| CKBPAY | Y | Y | ||||
| Customer Transactions; Supplier Transactions; Banking | NTE | 0 | No Tax Affect what so ever and not shown on the GST Batch | CBKPAY | N | N |
| CBKDEP | N | N | ||||
| SUPCRE | N | N | ||||
| SUPDEB | N | N | ||||
| CUSCRE | N | N | ||||
| CUSDEB | N | N | ||||
| General Ledger Journals, Standing Journals and Recurring Journals | N/A | N/A | No GST Tax is used on a journal therefore no GST Item created | GLJMAN/GLJSTD | N | N |