how to implement GST/VAT splits?

[Andrew F.]

I am testing GnuCash to see if it us useful to do my small business accounting in Australia. Because we have a GST (= VAT) type of sales tax, purchases and sales usually have a tax component which should be split off to an asset/liability account rather than counting the entire amount against an income or expense account.

I have installed GnuCash 2.2.7 and can not figure out how to make this separation occur "automatically" when I record a purchase or sale.

I have used the Tax Table Editor to set up GSTsales and GSTpurchases taxes (both at 10%) but can not figure out how to get the system to use this information, or even what the Tax Table is for.

I have consulted the online documentation (which dates from 2006).

Can anyone help?

Andrew
andrewf8 at yahoo.com


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