Thanks for the additional info, Evon25.
We can create an expense transaction to record the paid GST on imported products. Here's how:
- Go to the +New button and select Expense.
- Enter the necessary details such as the payment account, date, and payee.
- Under Category details, select an expense account related to the imported goods and enter 0.01 in the Amount column.
- From the GST column, select the paid GST type.
- On the second line, select the same account. Enter -0.01 in the Amount column, then choose “Out of scope” for the tax code.
- Edit the GST field below the Subtotal to reflect the amount of tax paid.
- Select Save.
Once done, this also reflects on your GST reports.
Additionally, I still suggest seeking some advice from your accountant on how to properly record paid GST on imported goods.
If you need to make an adjustment, check this link: Create or delete a GST adjustment.
Keep on posting here if you have more concerns. We'll respond as soon as we can!
