Separate general ledger code for each tax code
We have both NZ and Australian GST. When raising an invoice (mostly expenses in our case) we can select which tax code to use NZ15% expenses, Aust 10% and so on. The big issue is that the GST portion is coded to one general ledger code. This makes it difficult to reconcile the balance as there are entries which have nothing in common with each other all in the same code.
Each tax code should have its own general ledger code. In our case both the NZ rates would be posted to code 9170 GST and the 10% Aust rate would be coded to 9171.
2
votes
Baker Tilly
shared this idea