How GST is Handled on Invoices

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The interface process has logic to calculate GST on AR Invoice records. This can be used to estimate the GST amount included in the receivable amount from the purchasers.

In the Maintain Invoice Types screen in Qbyte Financial, there is an Auto-calc GST (PA Interface) checkbox. If AR entries coming through the interface process booked to AR accounts where this checkbox is selected, the interface process will calculate GST on the invoice amount, using the GST rate from Qbyte Financial's Tax Rates table. This calculated GST amount will result in the following entries:

• AR invoice amount will be increased by the amount of the calculated GST.

• Offsetting entry will be created to the GSTSalesAccount retrieved from the ORG_PROCESSING_ACCOUNTS table.