GST entries on income items with Simply Accounting

[farmerjeff]

I've downloaded a trial copy of Simply Accounting and I can't figure out how to enter the GST on income entries. For example when I sell a cow at the sale barn, there is GST on the commission, Cattleman's Association fee, etc. Does anyone here know how I can get around this?

Thanks,
Jeff

[silverback]

Hard to remember, but can you not override the tax column or something?

Sorry.

[jensend]

record the gross amount of income (total selling price) then record your commissions, etc. as expenses and the gst on those expenses and your entry should balance.

[farmerjeff]

Thanks for the replies.

I was hoping for some simpler solution.

Thanks, jensend, that should work.

Jeff

[Pulseman]

Hello farmerjeff,

I hope you will see this. Simply, once setup properly (and the proberly is imortant) works fine. It has some difficulties with regording your inventory since it is not assempled like a car from x parts plus profit margin.

Anyway, go into sales, enter the buyer by pull-down or type in a one time customer. Go to the item field and double klick your inventory "cow", enter the quantity and the sales price per unit. You see in the "tax field" a "G", double klick and you will see five options, your cow is either 'no tax, 'E' exempt or 'N' none taxable. In the last field goes the account where you like the income recorded. This all can be pre-set, but you have the ability to override.
Now comes your costs. Enter the description, then the amount and go into the tax field to specify your GST details, nice thing is, you can give the amount including the taxe, specify so and give the cost account in the last field and you canpost your sale.

Hope this helps.