This article will explain the meaning of all abbreviations that are shown within the transaction screen.
- CD Column - If it is a debit or credit cashbook entry (i.e. receipt or payment).
- I/E Column - GST Included/Excluded in a Tax Invoice.
- A/M Column - Auto/Manual calculation of GST.
- GST$ Column - The GST portion of the amount will be shown for each split.
- If the code for the split is one with a zero GST rate such as "GST Free" or "No Claim" then this will be zero.
- Net of GST Column - Non-GST portion of the split amount.
- If the code for the split is one with a zero GST rate such as "GST Free" or "No Claim" then this will be the same as the amount entered. The same will apply if the amount is entered with GST excluded.
- If the amount is entered with GST included then the sum of the “Tax $” and “Net of GST” columns will be equal to the “Amount” column.
- Category Column - The GST category for each code.
- % Column - The GST rate for this split.
- Status Column - Is either blank or has 'Closed' written for each split. All transactions are given a cashbook status. Once a GST period has been closed, the transactions will have a closed status.
- O/D Column - Indicates if you have used the default GST category or overridden it.
- Under the payee name is a summary of the transaction showing the non-GST, GST and total.
- These figures should match your invoice totals (if these are shown separately on the invoice).
- If not, you must assess where an error has occurred or your Business Activity Statement will not be correct.
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