Cash Manager 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 that your balances and transactions are all reconciled so that no errors pull through into your GST report.
If the balance in Focus matches your bank balance, all you need to do is review the report before filing your return with IRD.
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 clicking on Save Final.
By finalising the report all the items for the period are locked into it.
The GST type on these items can't be changed as these changes will void your return with IRD.
All that remains is for you to file the return with IRD.
4. File your GST report with IRD
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.
Optional - Download and print the 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.