BankLink Practice populates boxes 10 (Total GST Collected) and 14 (Total GST Credit) with the actual GST collected and paid.
These figures are multiplied by 23 then divided by 3 to get the Total Sales and Income (Box 5) and Total Purchases and Expenses (Box 11).
Due to this the Total Sales and Income and Total Purchases and Expenses may differ from the GST Audit Trail / Summary due to rounding or if the GST amount has been overridden as you weren't claiming 15% GST for the entire transaction.
GST Return
GST Collected $5,676.86
Multiplied by 23 then divided by 3
= Total Sales $43,522.59
GST Summary
Actual Gross Income $43,522.58
Actual GST Collected $5,676.86
From the example above due to rounding there is a 1 cent difference.
If you need further details as to why there is a discrepancy between these amounts please contact BankLink Support and you will be required to email your BankLink Practice client file so we can provide further information.
