GL Tax Sales Income Account

Tax on transactions coded to Income, Liability or Capital Analysis will be analysed to this account. This means:

• The Tax component of most Invoices from AR will be Credited to this account.
• The Tax component of most Credits from AR will be debited to this account.
• The Tax component of appropriate transactions in the CB will affect this account.
• Invoices and credits entered in AP will also affect this account if they are analysed to income, liability or capital Analysis codes.

GL Tax Sales Adjustment Account

Output adjustment GST transactions will credit this account. The account to be debited is specified when entering the adjustment.

GL Tax Purchases Expense Account

Tax on transactions coded to Expense or Asset Analysis codes will be analysed to this account. Typically this means:

• The Tax component of most Invoices from AP will be debited to this account.
• The Tax component of most Credits from AP will be Credited to this account.
• The Tax component of appropriate transactions in the CB will affect this account.
• Invoices and credits entered in AR will also affect this account if they are analysed to expense or asset Analysis codes.

GL Tax Purchases Adjustment Account

Input adjustment GST transactions will debit this account. The account to be credited is specified when entering the adjustment.

GL Reconciliation Account

The GL Account to compare with the GST Payable/Refunded figure for completed GST Returns on the GL Ledger Reconciliation report. The Account may be either a Standard account or a Total Account and is optional.

GL Cash Basis Clearing Account

Cash Basis Clearing account is used when the GST Rate is changed and the Tax Basis is Payments for GST Transition Adjustments generated from the Return Form.

GL Rounding Adjustment Account

Rounding Adjustment Account is used when GST figures must be rounded to whole dollars for the BAS return form, and when rounding adjustments are generated from the Return Form.

GL Tax Adjustment Branch

GL Tax Adjustment Department

Adjustment Branch and Department are required for the CB Integration. These are used for tax adjustments created when the return is accepted. (Accredo Saturn Only)

AR Discount Adjustments

AP Discount Adjustments

Available for Invoice (Accruals) Tax Basis only.

Selected, Accredo will automatically account for GST on AR Receipt / AP Payment Settlement discounts by creating GST Adjustments at the GST Return form, based on allocated settlement discount. Adjustment occurs in the allocation period. Allocations relating to Discount Adjustments are locked when the GST period is closed by accepting the return form.

Cash Book

Payment Type

The default CB payment type. Select from Withdrawal or Electronic Payment.

Payment Reference

A reference for payments. For Australian regimes, enter the Payment Reference Number (PRN).

Bank Account Code

The bank account to use for the tax regime.

Tax Analysis Code

Analysis code for tax for the regime.

Provisional Analysis Code

Analysis code for provisional tax for the regime. Only available for the NZ Base Regime.