GST Adjustments

GST Adjustments

Overview

GST Adjustments are occasionally required for making adjustments for: 1 Personal use of business assets 2 Adjusting the amount of GST claimed in prior periods which has not been reported on

the Business Activity Statement (BAS) or the Goods & Services Tax Return

3 Rounding Adjustments (only whole dollars are reported on the BAS).

The GST adjustment screen is accessed by clicking on ‘Costing / GST Adjustments”

The following screen appears

Rounding Adjustments - how to process and the GL entries

Misc Adjustments - how to process and GL Entries

Personal Use - how to process and GL Entries