GST Settings | Agrimaster 10

GST Settings allow you to configure how GST is managed within your budget, including your opening GST balance, GST bank account, BAS frequency, and GST remittance schedule.

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1. Access GST Settings

You can access GST Settings in two ways:

• From the Budget Home Page, select GST Setup from your Active Budget Details
• While creating a New Blank Budget using the Create New Budget Wizard

2. GST Opening Balance

The GST Opening Balance allows you to enter any GST amount that has accrued from your previous reporting period.

This represents the opening GST balance that will be carried into your new budget.

If the amount is negative, enter a minus sign before the value.

3. GST Bank Account

The GST Bank Account is the bank account that will be used for all GST payments and GST refunds.

Once selected, this account becomes the Assigned GST Account for the budget.

All GST remittance and refund transactions will automatically be applied to this account.

4. GST Return Owed or Payable

GST Return Owed or Payable allows you to record any outstanding GST refund or GST liability from your previous reporting period.

Enter the amount, then select the month in which the payment or refund is expected to occur.

5. BAS Frequency

BAS Frequency determines how often your Business Activity Statement is lodged.

You can choose from:

• Monthly
• Quarterly
• Annually

Agrimaster uses your selected BAS frequency to automatically generate the default GST remittance schedule for your budget.

6. GST Remittance Schedule

By default, Agrimaster automatically generates GST remittance months for every year of your budget based on the BAS frequency you selected.

If your GST remittance dates differ from the default schedule, select Customise Remittance.

The Customise Remittance window displays each budget year together with the default GST remittance month for every BAS period.

To customise the remittance schedule:

1. Select Customise Remittance.
2. Select Customise to change the default remittance months for each period.
3. Select Change for the remittance month you want to update.
4. Choose a different month using the date picker.
5. Select Done to save the customised remittance schedule.

7. Save GST Settings

After configuring your GST Settings, remember to save your changes.