General ledger codes for GST / sales tax types
There needs to be a separate general ledger code per sales tax (GST) code.
We can claim both NZ (15%) and Australian GST (10%) on invoices paid. Currently the GST automatically deducted from the invoices are all coded to one GST holding code in the balance sheet.
This means the code is mixing up two completely unrelated items.
For ease of reconciliation (and good accounting practice), each GST / sales tax should have its own code.
The only way I can separate the two GST types is to manually journal the monthly balance from one code to another.
Baker Tilly
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