To automatically calculate GST in your budget

Start by creating a liability account that'll be used in your budgets to help with the auto GST calculations. This account works behind the scenes to show your expected GST liability in a cash movement budget. It'll be a unique account that isn't used for anything else.

1. Go to the Accounting menu > Chart of accounts.
2. Click Create account.
3. For the Account type, choose Other liability.
4. Enter an Account number that suits your accounts list.
5. Enter an Account name, like GST Clearing Account or GST Budget Account (or similar).
6. For the Tax/GST code, choose N-T.
7. Click Save. Here's our example:
   

You can now turn on auto GST calculations in your cash movement budgets.

1. Create your budget as you normally would. See Working with budgets if you need some guidance.

2. Choose Cash movement as the budget Type.

3. Select the Auto calculate option and:

   1. confirm that you understand that this will overwrite any values that have been entered in the GST Movement section

   2. choose the GST clearing account you created above

   3. choose or confirm the GST reporting frequency for your business.

   
   

    

   You can check or change these settings later in your Report settings. Any changes you make here will be applied to all users of your MYOB business. If you're not sure about these settings, consult your accounting advisor.

4. Click Save.

5. Enter your budget amounts. If you need any tips, see Working with budgets. As you enter these amounts the GST Movement section automatically updates and the GST clearing account you chose at step 6 shows the amount of GST payable or refundable for your reporting periods.

   New Zealand only. To enter GST on imports, you need to enter amounts for the 2-1240 GST Input Tax Adjustments account. 100% of these amounts will be automatically added to the GST Paid account (or, if you don't have a GST Paid account, the GST Balance account).

6. Click Save to save the budget.

To overwrite calculated GST amounts in a budget

1. On the Budget Management page, click the budget's name to open it.
2. Click Report options and deselect Auto calculate.
   

3. Edit the values in the GST Movement section as required. 

   Don't re-select Auto calculate, as this will overwrite the changes you've made.

4. Click Save changes.