Farm Focus makes GST reporting easy; the bulk of the work has already been done as you enter and code information in the Actuals screen.
Before you prepare your GST return it is important to make sure:
all transactions for the GST period are coded, and
you are balanced.
If the balance in Focus matches your bank balance, you will have one balance showing.
1. Create your GST report
Click on Reports.
Select the GST report that relates to the period you're filing.
TIP: If you're creating your first GST return in Focus, click on Create first GST Return.
Each report includes a list of the items that make up the GST return.
The list is divided into three sections for GST; Business, Personal and Exempt.
2. Check the GST report
Go through the sections and make sure the items have been coded correctly and given the correct GST type.
For example, any electricity payments for the personal portion of your house are sitting in the Personal section.
If anything needs to be corrected, locate the transaction in the Actuals screen and correct it.
3. Finalise the GST report
Once you're happy with the information in the GST report you can finalise it. By finalising the report all the items for the period are locked into it. Once finalised, any changes to the GST type should be done with caution as it will invalidate your return with IRD. To finalise a GST report either click on:
Save Final, or
Save Final & File with IRD
With this option, you will still need to file the return with IRD and make a payment or lodge a refund.
Save Final & File with IRD
With this option, your report will be filed directly with IRD. All that's left is to make a payment or lodge a refund.
To file the report, choose to Save Final & File with IR
Read the Terms and Conditions to ensure you understand the process once you file with IRD, then click File Now. You will now be directed to log into MyIR where your report will be filed.
Download and print the GST report
You are able to print a copy of your GST report.
Click on the Print button in the GST report to download the report to your computer's Downloads folder.
You'll have the option to print only the first page of the report or to include the coded lines as well.
Once you've downloaded it you can open it to print.
Warnings in your GST return
If there are uncoded transactions for the period in the Actuals screen, you'll see the following message at the top of the GST report.
If you get this warning, go back to your Needs Action screen and code all transactions for the GST period.
Why are the balances in my farm business different?
How to reset a GST report
Warnings in your GST report