Please check this sample and comment.
Sample For Account Heads
how you do that? Is it you done by Manager ?? if yes then How?
He used custom accounts in
Chart of Accounts… then allocated each tax component to their custom liability account. I think this is excessive effort.
Tax Summary will be improved to handle multi-component tax codes better.
Also, no need to have one tax code for
Sales and other for
Purchases. I mean you can but Manager is pretty smart at figuring out which transactions are sales and which purchases so you can get away with just half of tax codes and still get the same results.
@lubos when can we expect this to happen ? can you provide a specific date ?
Totally agree with you but keeping the accounts seperate will help reconcile your Inputs ( Purchase ) more easily. I would request you to give option for seperate Input and Output data seperately in Tax Summary that would make it comfortable while reconciling manually / filling returns online at the GST portal.
( Request you to update HSN code as a standard for the INR- Currency users for the Indian GST )
The Tax Summary report already separates sales and purchases and lists taxes collected and paid as associated with each different tax code. If you use separate accounts, amounts will not offset (assuming your tax regime allows that). See below:
Actually you are not using Inventory, as most people do. So you have to use Non Inventory Items from the settings for HSN code. (You can put that field by custom field)
As my opinion No need to provide Separate HSN code field in Invoice making By default… Because We already entered HSN code of each items in Inventory By custom field. So it was directly Displayed in the Invoice.