[GNC] Goods and Services Tax - GST

[Christopher Lam]

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Now we've established you are on credit-accounts, the amounts showing
negative means you have likely entered the GST on Purchase data incorrectly.

On Wed, 1 Apr 2020 at 09:58, JV <jalkev at hotmail.com> wrote:

> Thanks for your help.  I wasn't aware of the Preferences>Accounts>Reverse
> Balanced Accounts feature but you're right - that was my setting.  I still
> don't understand why GNUCash is handling the values the way it is. I've
> pretty much got the structure you suggested:
>
> GST [Liability]
> GST:Collected on Sales [Liability]
> GST:Paid on Purchases [Asset]
> GST:Paid to IRD [Asset]
>
> Except that I figure that the GST I've paid to the tax department (IRD) so
> far should be an asset (please correct me if I'm wrong).  But for some
> reason whatever I change the account type to for these values (liability or
> asset), it doesn't seem to affect the top-level account sum total at all.
>
> On 1/04/20 10:31 pm, Christopher Lam wrote:
>
> Hi
>
> (Screenshot containing private data snipped)
>
> The first rule here is that support emails are always public because
> others may want to help.
>
> It seems you have set the Preferences > Accounts > Reverse Balanced
> accounts to 'Credit accounts' which is fine.
>
> It also seems that the GST Paid and GST Returns filed are negative --
> depending on the preference above, this may be fine; but the parent account
> adding the values as described would suggest that they may be incorrect
> account type.
>
> It seems your GST Sales > GST Purchases, so, I'd suggest the following
> structure, with top-level GST account:
>
> GST [Liability]
> GST:Collected on Sales [Liability]
> GST:Paid on Purchases [Asset]
> GST:Paid to IRD [Liability]
>
> Thus all values would usually be positive with 'credit accounts' reversal
> option.
>
> You can also try the "Income & GST Statement" report to assist with your
> periodic filing.
>
> On Wed, 1 Apr 2020 at 09:02, JV <jalkev at hotmail.com> wrote:
>
>> That would be great!  Sorry, I'm also new to these support mailing lists
>> so please let me know if I'm meant to be looking for support elsewhere
>> or in a different format.
>>
>> I've attached a screenshot to give you some insight.  I don't understand
>> why it's adding up the absolute values of the GST figures rather than
>> giving the assets (GST paid & GST returns filed) a positive value and
>> liabilities (GST collected) a negative value. The 'GST payable to IRD'
>> in my mind should be GST collected minus GST paid minus GST returns
>> filed.  Thanks for much for your help - it's starting to do my head in!
>>
>> On 1/04/20 9:45 pm, Christopher Lam wrote:
>> > Maybe you can share your account structure or a data file with sample
>> data,
>> > and we can try make it work? The documentation is still behind the
>> > reporting capability.
>> >
>> > On Wed, 1 Apr 2020, 4:08 pm Jacob Verbeek, <
>> jacobv.consultancy at gmail.com>
>> > wrote:
>> >
>> >> Hi,
>> >> I'm a new user of GNUCash for my fledgling consulting business.  I love
>> >> the program but can just not get GST to work the way I want to (New
>> >> Zealand).  I've read all the documentation I can find on it. I've gone
>> >> with the 3-account system but GNUCash seems to just add up the absolute
>> >> value of the numbers I enter into each category, disregarding whether
>> >> they have a positive or negative value; changing the account type to
>> >> asset/liability doesn't seem to make any difference.  It's probably
>> >> something really simple and dumb but I just can't seem to fix it.  How
>> >> do I go about getting some support to resolve this issue?
>> >>
>> >> Much appreciated,
>> >>
>> >> JACOB
>> >>
>> >> 022 0264943
>> >> jacobv.consultancy at gmail.comm
>> >> www.about.me/jacobverbeek
>> >>
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>