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jenny-electrowel
Level 2
posted
‎January 30, 2024 12:39 PM
last updated ‎January 29, 2024 5:39 PM

How to enter an invoice which is all gst for imported goods paid previously. whole invoice is $2000 gst.

 
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Best answer January 30, 2024
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IntuitSheila
Level 8
‎January 30, 2024 02:24 PM

How to enter an invoice which is all gst for imported goods paid previously. whole invoice is $2000 gst.

Hello jenny-electrowel,

 

To be able to record a GST amount only transaction in QuickBooks Online, you can create an expense or cheque transaction and enter amount 0.1 in two line items. You will add a tax code on the 1st line item (0.01) and the negative amount should be set up as Out of Scope. Then, manually enter the GST amount in the sales tax field.

 

Check the screenshot below for reference.

 

 

Please don't hesitate to comment below if you have other concerns. I'll be here to help.

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3 Comments 3
IntuitSheila
Level 8
‎January 30, 2024 02:24 PM

How to enter an invoice which is all gst for imported goods paid previously. whole invoice is $2000 gst.

Hello jenny-electrowel,

 

To be able to record a GST amount only transaction in QuickBooks Online, you can create an expense or cheque transaction and enter amount 0.1 in two line items. You will add a tax code on the 1st line item (0.01) and the negative amount should be set up as Out of Scope. Then, manually enter the GST amount in the sales tax field.

 

Check the screenshot below for reference.

 

 

Please don't hesitate to comment below if you have other concerns. I'll be here to help.

Reply
Sha-ron
Level 1
‎August 19, 2024 11:26 AM

How to enter an invoice which is all gst for imported goods paid previously. whole invoice is $2000 gst.

Hi, 

When creating a GST on Capital in Group Rate what do you choose in these 3 boxes 

applicable on

tax rate

applicable on. 

 

Thanks Sharon

 

 

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IntuitSheila
Level 8
‎August 19, 2024 01:41 PM

How to enter an invoice which is all gst for imported goods paid previously. whole invoice is $2000 gst.

Hi Sharon,

 

The "Applicable on" field for group rates determines how the tax rate will be applied to a line item – whether it's on the net amount, tax amount, or net + tax amount. If you're not sure what to select, kindly reach out to your accountant to get more information on how to track GST.

 

For reference, you can check this link to learn more about how to add custom tax rate in QBO: Edit GST settings in QuickBooks Online.

 

Post again in the Community if you have further questions about QBO. 

 

 

 

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