By issuing an outbound document, the GST (Goods and Services Tax) value is automatically calculated by a rate previously registered in the Tax Register routine (10 for products with GST and 0 for GST-free).

GST is tax applied to most goods and services in Australia. This tax can be refunded to all parts of a production supply chain, except for the end consumer. GST is a federal tax, its rate is always 10% for all products with GST and 0% for GST-free products.

GST is also calculated when the company is registered/eligible for this tax or when a requirement must be registered.

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In invoices, the tax value and the invoice total have decimal places calculated by the system (always considering two decimal places and rounding up from number 5 in the third decimal place).

Example:

1.433 = 1.43

1.435 = 1.44

1.437 = 1.44


The GST value calculated is displayed in the Tax Value field of Taxes folder.


Requirements

Before generating an invoice with GST calculated, you must:

  1. Register a Product with GST tax.
  2. Register a Customer.
  3. Register TIO (code 501).
  4. Enter a sales order by using the TIO.

By entering a sales order, the bill payable is automatically generated.


See Also

GST is also calculated in the following routines: