How to remit to tax authority and bring tax code to zero

1

Hi there,

I created a tax code (GST) and applied this code to all the sales and purchase transactions. All amount payable to ATO (tax authority) shown under liabilities as GST payable account.

Now is the time to remit the amount to ATO. But I can’t write journal to GST payable account (ican’t see the GST payable account in a list of account when writing a journal) to bring the balance to zero.

Can anyone help? Much appreciated.

I am using Manager desktop version: 23.3.29.739

Regards,

Ranjit

2

See this post; it should point you in the right direction.

3

Your remittance should be a payment transaction, not a journal entry.

4

Thanks for the reply. How to do payment transaction?

I did a work around. The GST code was attached to default tax payable account. I created a new account and attaced the tax code to new account. It worked. I can now do a journal entry.

5

Thanks. The post did help.

The GST code was attached to default tax payable code. I created a new account and attaced the tax code to new account. It worked. I can now do a journal entry.

6

Read the Guide on how to record a payment. The exact procedure for tax remittance is also covered in the Guide on using tax codes.

7

Then it does not work as it is supposed to do. Please follow the guides and advise as per @p4unger and @Tut, especially his last post. It is better to do it right now then realizing that you have gone off track with Manager costing far more effort in future. That something seems to work does not mean that it is supposed to work that way.

8

I suspect that Ranjit_Sudan has not created Bank or Cash accounts correctly

9

@Ranjit_Sudan also seems to be trying to use journal entries for monetary transactions.

10

For me I create a sub account of the main Tax Payable account and debit it, then the sum of the account and sub-account come to NIL. Anyway how are you going to enter a journal entry to a bank account? The GST Payable is more of a personal account but manager treats it as an impersonal account. Manager should treat the Tax Payable Account like say the Accounts Payable and Accounts Receivables where various tax authorities can be created the same way customers and suppliers are created under the “dummy” Accounts Receivable and Payable respectively.