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ANSWER ID:36153

BankLink Practice

To claim a percentage of GST when interfacing with BGL Simple Fund, the transaction needs to be dissected and GST applied to a set proportion of the transaction.

There are three tasks to apply a dissection in BankLink Practice:

  1. Create a payee with a dissection in it to apply GST to that amount.
  2. Code each transaction using the Dissection tool using set amounts.
  3. Code each transaction using the Dissection tool with a set percentage of the transaction amount.

 

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title1. Create a payee with a dissection
  1. Open the client file.
  2. Go to Other Functions > Payees.
  3. Click New to create a new payee.
  4. Fill in the Payee name and any other details you want to add.
  5. In the coding section, choose the Chart of Account code that you want to assign GST to.
  6. In the GST column, assign the correct GST rate. You can look up GST by pressing F7 while in the GST column.
  7. In the Percent column, choose the amount. For example if you want 75% to have GST applied, enter 75%.
  8. On the next line, select the same Chart of Account code chosen previously.
  9. Assign a different GST code and choose 25% as the remaining percentage rate, or press the equals (=) key on the keyboard.
  10. Click OK to save the payee.

 You can now assign this payee to any transactions for which you want to claim a certain proportion of GST.

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title2. Assign a set proportion of GST to a transaction using dissection
  1. Click the transaction you want to dissect.
  2. Press the forward slash (/) on your keyboard, or click the Dissect button on the screen. The Dissect a Transaction window appears.
  3. Choose the required Chart of Account Code.
  4. Enter the amount you want GST to be applied to.
  5. Select the GST code in the GST column by pressing F7 and selecting the GST I.D.
  6. On the next line, select the same Chart of Account Code.
  7. In the Amount column, enter the remaining amount of the transaction, or press the equals (=) key on the keyboard.
  8. Click OK to save the dissection for that transaction.
UI Expand
title3. Assign GST to a proportion of a transaction using dissection
  1. Click the transaction you want to dissect.
  2. Press the forward slash (/) on your keyboard, or click the Dissect button on the screen. The Dissect a Transaction window appears.
  3. Ensure the Percentage column is showing in the window.
    1. Right-click a column heading and choose Configure Columns.
    2. Ensure the Percent column has a V for Visible and an E to enable editing.
  4. Click OK.
  5. Choose the required chart of account code under the Account column.
  6. Under the Percent column, enter the percentage amount that you want GST to be applied to.
  7. Select the GST code in the GST column by pressing F7 and selecting the GST I.D.
  8. On the next line, select the same chart of account code.
  9. In the Amount column, enter the remaining amount of the transaction, or press the equals (=) key on the keyboard.
  10. Click OK to save the dissection for that transaction.


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