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- Created by admin, last modified by AdrianC on Dec 09, 2015
https://help.myob.com/wiki/x/mYyi
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:
- Create a payee with a dissection in it to apply GST to that amount.
- Code each transaction using the Dissection tool using set amounts.
- Code each transaction using the Dissection tool with a set percentage of the transaction amount.
1. Create a payee with a dissection
- Open the client file.
- Go to Other Functions > Payees.
- Click New to create a new payee.
- Fill in the Payee name and any other details you want to add.
- In the coding section, choose the Chart of Account code that you want to assign GST to.
- In the GST column, assign the correct GST rate. You can look up GST by pressing F7 while in the GST column.
- In the Percent column, choose the amount. For example if you want 75% to have GST applied, enter 75%.
- On the next line, select the same Chart of Account code chosen previously.
- Assign a different GST code and choose 25% as the remaining percentage rate, or press the equals (=) key on the keyboard.
- 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.
2. Assign a set proportion of GST to a transaction using dissection
- Click the transaction you want to dissect.
- Press the forward slash (/) on your keyboard, or click the Dissect button on the screen. The Dissect a Transaction window appears.
- Choose the required Chart of Account Code.
- Enter the amount you want GST to be applied to.
- Select the GST code in the GST column by pressing F7 and selecting the GST I.D.
- On the next line, select the same Chart of Account Code.
- In the Amount column, enter the remaining amount of the transaction, or press the equals (=) key on the keyboard.
- Click OK to save the dissection for that transaction.
3. Assign GST to a proportion of a transaction using dissection
- Click the transaction you want to dissect.
- Press the forward slash (/) on your keyboard, or click the Dissect button on the screen. The Dissect a Transaction window appears.
- Ensure the Percentage column is showing in the window.
- Right-click a column heading and choose Configure Columns.
- Ensure the Percent column has a V for Visible and an E to enable editing.
- Click OK.
- Choose the required chart of account code under the Account column.
- Under the Percent column, enter the percentage amount that you want GST to be applied to.
- Select the GST code in the GST column by pressing F7 and selecting the GST I.D.
- On the next line, select the same chart of account code.
- In the Amount column, enter the remaining amount of the transaction, or press the equals (=) key on the keyboard.
- Click OK to save the dissection for that transaction.