GST On income avaliable in Expenses
For property rental clients they often recharge costs to a customer
EG cleaning fees, BWOF rates.
As the original bill is coded to an EXPENSE account you can only allocate a recharge from this code as a 15% GST on EXPENSE or NO GST.
Can you add a 15% GST on Income and Zero Rated GST options under Tax Rate Field?
Pauline Warne
shared this idea
Hey Pauline thanks for bringing this to us, currently this is the process when you add a billable expense:
- Add the supplier bill and select the correct purchase GST rate, such as 15% GST on Expenses or another rate that applies.
- Assign the bill line to the customer and approve the bill.
- Create an invoice for that customer and add the billable expense.
- Check the invoice line and select the correct sales GST rate, such as 15% GST on Income or another rate that applies, then approve the invoice.
The GST rate on the bill relates to the purchase, while the GST rate on the invoice relates to the sale. The invoice rate may therefore need to be checked and updated before the invoice is approved.
I believe this process is doing what you are asking for here. If not you can reply to this and clarify the process you are wanting to see in Xero.😊
