CHECKING GST ALLOCATION IN XERO - JJ AUTO PARTS MONTHLY TASK

CHECKING GST ALLOCATION IN XERO - JJ AUTO PARTS MONTHLY TASK

Copy sheet to 

CHECKING GST ALLOCATION IN XERO TASK 
Background 

GST TAX IN AUSTRALIA 

this is a 10% tax on all items that are sold ( with some exceptions ) in Australia, so if we sell parts for $110 ,its really $100 for the part and $10 tax
if we buy something for $55 its really 50 purchase plus we have paid $5 tax
companies pay the tax to the goverment every 3 months , they paid the tax that they have collected minus the tax that they have paid when they bought things
its easy to work out the sales where we collected tax , as all items we charge the 10%
for purchases we usually pay 10% except if it was bought from overseas or if item is in special category i.e bank chargers etc ( as per list )
EXCEPTIONS  ARE SHOWN IN GUIDE BELOW 

WHEN WE ENTER INVOICE INTO XERO WE MUST SELECT THE TAX THAT APPLIES AND AT TIMES A MISTAKE IS MADE ,HENCE THE REASON TO CHECK .WE HAVE TO GET THIS RIGHT SO WE PAY THE CORRECT TAX
 
This task deals with checking the entered item under purchases in Xero.-(DONT WORRY ABOUT GST ON INCOME )

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PROCESS 
We do this for the previous month 

> Go to XERO / REPORTS and ACTIVITY STATEMENT. Click GST Audit Report. The select the date range you need.

> Download the file TO EXCEL using the EXPORT button ,Sort by alphabetical as per video guide 

> Go through the line that is incorrect GST allocation.

> Remove and Redo the payment first then edit the purchase entry.

> Note the errors picked up in the google sheet 
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> All entries in Xero must have the correct GST Code or the Tax Rate as GST on Expenses
except for items on list as per below


 BAS EXCLUDED:
  • ANZ TRANSACTIVE( NOTE GST IS APPLIED TO MERCHANT FEE ) ,  ( note ) GST tax is applied on merchant fees but not on bank charges 
  • ASIC
  • DEPRECIATION
  • DIRECTOR PAYMENTS
  • DISHONOUR CHEQUE
  • DIVIDEND
  • ERROR IN DEPOSIT
  • LOAN
  • SHAW REPORT
  • STAMP DUTY ON MOTOR VEHICLE INSURANCE
  • STATE REVENUE
  • SUPERANNUATION (EXCEPT RENT)
  • TRANSFERS BETWEEN ACCOUNTS
  • KOGAN
  • WAGES

 GST FREE EXPENSE:
  • COMMERCIAL FORMS
  • EBAY & PAYPAL CHARGES
  • FAIRFIELD COUNCIL RATES
  • HOSTWAY
  • JENCEY CONSULTING
  • LEXCOM
  • LINKEDIN
  • ODESK
  • PAYPAL 
  • RATES
  • SKYPE
  • SYDNEY WATER
  • ZENDESK
  • ZOHO
  • ZOPIM
  • TAXATION PAYMENTS
 GST ON EXPENSES:

This applies to all other expenses 
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TRAINING PROCESS 

During training process highlight the items to be updated in excel file and send file with ticket to your trainer to confirm and fix 
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