Hi, cjfranke 

For Purchases/Expenses under the Debits column enter the amount and under the GST column select the relevant GST rate on purchases this will automatically calculate the Credits column with the GST amount ( inclusive of GST/ Gross amount ).

For Sales  under the Credits column enter the amount and under the GST column select the relevant GST rate on sales this will automatically calculate the Debits column with the GST amount ( inclusive of GST/ Gross amount ).

Check the attached screenshot 

Comment back for further clarifications.

It's the exact same thing I am trying to do/find for Journal Entries.

For daily transactions best practice is to use standard workflow such as Invoices,Sales Receipts,Bills,Deposit screen etc which will ensure accurate reports and you have the options of selecting Inclusive of Tax OR Exclusive of Tax under the Amounts are field dropdown menu for the Journal entries this option is not available.

Another available option to find the net amount / exclusive of tax amount is in the amount field enter the Gross amount / inclusive of tax amount and divide by 1.10 ( tax rate is 10% ) to get the net amount, this calculation can be performed in the amount field itself.

Thanks - I didn't know the calc could be done in the amount field.

Hi, but I still find it very time consuming considering if have have several lines for journal entries.. Would be great to have option to choose tax exclusive and inclusive optin.

when i am passing the journal i dont see that amounts reflected in the GSTR report

Hi ivrtejaswi,

 

The journal entry will show on the GST Report (eg GST Detail Report) as long as a) one line has a GST code associated with it or b) the lines have different GST codes assigned. If there is no GST code on the journal at all, it will not display on the report. Similarly, if the entry has the same GST codes on both lines it will not show as these codes zero or balance each other out. 

 

-Kass

I have to include GST to the expenses. How do I do that? Are these the right steps?

 

Select - 'Amounts are': 'Inclusive of tax',

Then - 'GST on purchase: 'GST on purchase 10%'

 

Hi Fae89, 

 

Yes, on the Amounts are field box, you have option to choose whether you use Inclusive or Exclusive of Tax.  Then select the rate on the GST column. 

 

Feel free to reach out to us if you have questions. 

 

Nona