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Entering vehicle registration.

 
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bille1



Joined: 05 Dec 2005
Posts: 255
Location: Perth, Western Australia

PostPosted: Tue Mar 20, 2012 10:17 pm    Post subject: Entering vehicle registration. Reply with quote

Item Amount Code

License Fee 117.25 N-T
Insurance 236.45 GST
GST on Insurance 23.65 N-T
Stamp Duty on Insurance 26.00 N-T
Recording Fee 13.05 N-T
Total 416.41

GST = $21.50

I'm not really interested in the numbers just the correct CODE

If it makes any difference we are in Perth WA, I guess some state transport departments charge differently.

We have several vehicles and some are used for private use as well as available to for the the office (33% business) and commercial vans are 100% business.

I have just become aware that we have set up some vehicles to be able to claim the GST as above but others have been set up using the code FREE instead of N-T.

Anyone able to offer advice on which is correct?

Our accountant is in hospital so I can't ask him.

I'd appreciate some help because at the moment I have some time so I can correct whichever is wrong.

Thanks in Advance, I appreciate your help.
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marc



Joined: 19 Nov 2005
Posts: 175
Location: Whyalla SA

PostPosted: Tue Mar 20, 2012 10:42 pm    Post subject: Reply with quote

Hi Bill,

The third line is actually the gst of the second line item just written out separately. This third line should not be entered as, when the gst code is used against the second line this amount is then generated by myob. The gst in this transaction is the 23.65 and not 21.50 as written. The correct code for the others is FRE because they are within gst system and made free by legislation as opposed to say wages which are n-t as wages are outside the gst system as they are not a good or services supplied in connection with Australia.

Hth

Marc
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bille1



Joined: 05 Dec 2005
Posts: 255
Location: Perth, Western Australia

PostPosted: Tue Mar 20, 2012 11:14 pm    Post subject: Reply with quote

marc wrote:
Hi Bill,

The third line is actually the gst of the second line item just written out separately. This third line should not be entered as, when the gst code is used against the second line this amount is then generated by myob. The gst in this transaction is the 23.65 and not 21.50 as written. The correct code for the others is FRE because they are within gst system and made free by legislation as opposed to say wages which are n-t as wages are outside the gst system as they are not a good or services supplied in connection with Australia.

Hth

Marc


Hi Marc, thanks fro the quick reply, however if I remove the 3rd line altogether, code others to FRE except the 2nd line which I leave coded GST it calculates the GST as $21.50 Not $23.65 and the total is calculated as $392.75 but it should total $416.40 as this is the total payable on the Rego account from the Department of Transport.

The $21.50 is 1/11th of #236.45 not 10%.

So I think I'm not understanding the answer
Embarassed
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marc



Joined: 19 Nov 2005
Posts: 175
Location: Whyalla SA

PostPosted: Wed Mar 21, 2012 12:18 am    Post subject: Reply with quote

Sorry bill, its late and I missed it a bit. The second line is an exclusive amount so lines 2 and 3 should be added as one amount and then gst code used against that subtotal. Sthis will let myob correctly calc the gst. So 261.10. GST now should total ok.
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bille1



Joined: 05 Dec 2005
Posts: 255
Location: Perth, Western Australia

PostPosted: Wed Mar 21, 2012 10:32 am    Post subject: Reply with quote

marc wrote:
Sorry bill, its late and I missed it a bit. The second line is an exclusive amount so lines 2 and 3 should be added as one amount and then gst code used against that subtotal. Sthis will let myob correctly calc the gst. So 261.10. GST now should total ok.


Marc....Thanks that works for me.

Cheers

Bill
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