How to perform GST transactions which were previously done with Manual Journal Transaction

WHY ADD JOURNAL TRANSACTION NO SELECT TAX CODE ? IF LIKE THIS HOW TO PASS HIRE PURCHASES GL BECAUSE , START APR’15 ALL VEHICLE GOT 6 % GST CHARGES ALSO

Step-by-step guide

For payment of higher purchase, Payment Voucher can be used with Blocked input tax
If direct payment is not used and there are tax invoices, then Manual Supplier Invoice can be created.
Each of the tax documents'* have their own journal - but when it comes to breakdown by tax code -this is done at tax documents

Example

Data Given
Ledgers	Amount

Tax inv motor vehicle	232468.58
Amount paid by User	40468.58
Total finance	192000
Bank interest 2.3%	13708.8

Transactions in EMP

Total Invoice (Supplier > Supplier Invoice > Supplier Invoice Create)
	Dr	Cr
Asset	219309.981132075
GST	13158.5988679245
Supplier		232468.58

When paying downpayment (Finance > Payment Voucher > Create : Select to settle the previous invoice partially)

Supplier	40468.58
Bank		40468.58


When bank pays on behalf and drawdown loan (Supplier > Credit Memo > Create : Settle the remaining supplier invoice amount)

HP loan – principal and interest		205248
HP interest in suspense	13248
Supplier	192000

When paying installment (Finance > Payment Voucher > Create : Pay directly to GL)

HP loan – principal and interest	5701.33
Bank		5701.33

When paying installment (Add Journal to move amount to PL : Accounting > Journal and Ledger > Add Jtxn)

HP interest – PL	700		Eg
HP interest in suspense		700

GST is a transactional tax. During sales and purchase transaction - GST occurs.

* In GAF file Journal only shows in ledger - it cannot be a P or S entry

* P or S entry comes for transactions like Supplier Invoice, Customer Invoice, Deposit Receipt, Credit Memos - these are tax document

Wavelet Management Suite

How to perform GST transactions which were previously done with Manual Journal Transaction

Step-by-step guide

Example

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