Enter a General Ledger transaction

GST is supported in the General Ledger. You can use journal entries to make adjustments and to capture transactions with other taxes.

For Australia GST, examples of these other taxes include Luxury Car Tax, Motor Vehicle Acquisition, Wine Equalisation Tax (WET), and Withholding Tax.
Subscription

Taxes
Regional availability

All regions

User type

Business
Permissions

General Ledger

  • Journal entries: List, View, Add, Edit, Delete, Reverse

When entering journal entries, remember the following things:

  • If you're a multi-entity organization configured for multiple tax jurisdictions, transactions can be entered at the top or entity level. If you enter a transaction at the top level, select the Tax solution.
  • The tax fields are not displayed unless the tax implication option in the header is set to Inbound taxes for purchases or Outbound taxes for sales.
  • If you select Inbound taxes for purchases, it's not necessary to select a supplier. However, selecting a supplier helps limit the tax details that are displayed to those that are most applicable for purchases.
  • If you select Outbound taxes for sales, it's not necessary to select a customer. However, selecting a customer contact helps limit the tax details that are displayed to those that are most applicable for sales.
  • If you use either of the following tax details to enter an adjustment for Australian GST, do not change the value that's calculated for Transaction tax. For correct reporting, the value of the field needs to remain zero:
    • Input Tax Credit Adjustment
    • GST Payable Adjustment