Hello, I’m from Singapore and I have just started using QuickBooks Online.
I need someone to explain all the different types of GST in Customers and Suppliers.
When I create an invoice for Customers, which GST code do I choose?
Following 9 options are given:
SR 9%
0% SRCA-S
0% ES33
0% ZR
Out of Scope 0%
SRCA-C 9%
0% ESN33
DS 9%
0% OS
When I key my Supplier bills, there’s a different set of GST codes.
Following 13 options are given:
TX 9%
TX-RE 9%
BL 9%
0% ME
TX-N33 9%
0% ZP
IM 9%
0% EP
TXCA 9%
0% NR
Out of scope 9%
0% OP
TX-ESS 9%
I’m very confused over which to choose. I only know for our business, it’s not Out of Scope 0%.
Can someone explain what each type is for? Please help. Thank you.
Let me share information about the GST tax codes in Customers and Suppliers in QuickBooks Online (QBO), Jiuwo.
In QBO, the GST codes play a crucial role in determining the amount of tax that is due for each transaction line item.
On the other hand, I suggest reaching out to your accountant for assistance to determine which tax category to assign on each line item. They have the best insights into what tax categories your items need. If you don’t have an accountant, we can help find an Accountant near you.
In addition, you can run a GST Liability report in QBO to see how much sales tax you owe. Check how much GST you owe in QuickBooks Online
Leave a comment below if you have additional questions about GST from your customers and suppliers I'll be around the corner to help.
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