Re: GST accounts

[Luca V. <lu...@ye...>]

Jonas Smedegaard wrote:
> 
> On Fri, 16 Nov 2001, Luca Venturini wrote:
> 
> > Ned Lukies wrote:
> > >
> > > Is it possible to seperate the single GST account into to so that I have
> > > an asset GST account for GST paid on purchases and a liability GST account
> > > for GST collected on sales? If so, how?
> 
> > in Italy we use only the two accounts solution. We have to do this way
> > because we have to write two different books, one for sales and the
> > other
> > for purchases. Just modify your accounts list and put the
> > flag AP_tax in the 'GST for purchases' account and the AR_tax in the
> > 'GST for sales' account.
> >
> > What we do is to put this together once pro month in a third account
> > called something like 'GST summary'. Then I go to pay just the
> > sum of this third account.
> 
> Similar (to Italy) in Denmark.
> 
> I have set it up similarly to you, Luca, and it works as expected using
> "Customer Invoice" and "Vendor Invoice", but semi-manual data entry using
> "Add Transaction" defaults to using both GST accounts and you'll need to
> remember deselecting the irrelevant one.

Try to flag only the purchase GST account when you create a new vendor
and only the sell GST account when you create a new customer.

This way "Add Transaction" will default to the relevant accounts.

Luca