By ensuring the GST has been activated in the Budgets, you will enter your budgeted cash flows exactly the same way as previously. Data must be entered excluding GST; Agrimaster will calculate the GST for you.
The budgets provide a detailed report of all cash flows associated with the GST, Instalment Tax, Wages Tax Deducted (PAYG) and Fuel Rebates. Except for the four extra codes to handle GST and the Grain Income Calculator, your budgets will look just as they did before. The GST will therefore not get in the way of management decisions.
Agrimaster is set up to compare the budget and actual cashbook data using an import function. Complete the following steps before starting the first worksheet groups.
Check the GST setup.
Enter estimated usages in the Fuel Tax Rebate.
Add Suspense Codes (temporary accounts to hold imported data before assigned to an Income or Expense type).
Optional, enter the Instalment Tax interval (for quarterly or monthly payments).
To setup GST
- Click the Home Page.
- Click on Setup & Tools.
- Click on Cashbook Setup.
- Click on Tax.
- Click on Setup GST.
- Go to the bottom left and make sure both are checked:
- Activate GST in Budgets.
- Activate GST in Cashbook.
- Click on Next 4 more times (no other settings need to be changed).
- Click on Finished.
Continue to: Activate Full budget Fuel Tax Rebate