Hey there, rajeev-bhavaraju.
Before anything else, it's best to ensure that you enable your GST or choose the right tax rate within your settings so that you'll be able to see them in your transaction.
Right after, you can now create your sales forms that have a GST.
Here's how:
Step 1: Enable your GST
If you already set up your GST, you can skip this step and proceed to step 2.
- Go to GST located at the left navigation panel and select Get Started.
- In the GST section, select the accounting method and BAS lodgement frequency that applies to your business. If you're not sure what to choose, it's best to consult your accountant.
- Tick the PAYG Withholding box if your business is obligated to report Pay-as-you-go Withholding.
- Select the PAYG Instalments box if your business is obligated to report PAYG installments, then choose your reporting method and reporting frequency.
- Tick Other taxes if you report Fringe Benefits Tax, Fuel Tax Credits, Wine Equalisation Tax, or Luxury Car Tax.
Step 2: Choose the right tax rate selection
- Go to the Gear icon located at the upper right corner and select Account and Settings.
- Click the Advanced tab.
- Look for the Accounting section, then hit it or press the Pencil icon to edit.
- Click the Default tax rate selection dropdown and choose either Inclusive of Tax or Exclusive of Tax.
- Press Save.
- Once you're done making changes within your settings, click Done.
Step 3: Create a Sales form
- Go to the +New option anc and select a transaction you want to create.
- Fill up the necessary information.
- Press the GST dropdown, and choose your preferred percentage.
- Above the Total section, you'll see the Total value of your GST.
- Press Save.
I'll leave these materials for you to use as you dive into GST:
You can also edit your GST settings in QuickBooks Online if you'd like to make further changes.
I'm still here if you need further assistance. Just let me know in the comment section. Stay safe.
