New accounting and reporting

I am currently using Manager and am only required to account for local GST for income and expenditure, which I pay to our local government.

On July 1st we will come under the Australian tax system, but have no GST.
I will have to do tax returns, but no GST returns. We are a partnership and my wife does not work.
I want to keep all my information such as customers, suppliers, items etc.
Can you please suggest how I can change over without having to start all over.

Don’t use any tax code on transactions from July 1st.

Thank you for your reply, short and sweet.
I will have some accounts outstanding on the 1st July that will be paying GST, which will go to the local government. They are giving a 3 month period for outstanding accounts to be paid.
But as I operate on a cash basis, will that income then be liable for tax purposes for reporting, probably in a perfect world I should get all accounts up to date by end of June, as in accounts receivable and accounts payable.

Maybe I didn’t explain properly.

At the moment the business is reporting to a local government which is Norfolk Island, not to Australia. We currently do not pay income or business tax. We do charge and pay a 12% local GST, and GST collected is paid to the Norfolk Island government, less business GST paid on expenses.
As of July 1st the Australian government will control Norfolk Island, and we will be required to have an ABN, and be part of the Australian Tax system, and tax will be paid to the ATO.
The only difference from mainland Australia is that we will not be required to pay or charge either local GST, or mainland GST for purchases.

Therefore do I need to start a new business for tax purposes.

I would recommend you start a new business from 1st July that only includes transactions subject to Australian GST. Meanwhile any transactions attributed to the Norfolk Island taxation system can be entered on your existing business file even if they are for credit sales and purchases that are not cleared until July. You should check with the Norfolk Island Government if you are required to account for the final credit sales and receipts in your last BAS even if you reported on a Cash Basis.

Thank you for your reply. I thought that might be the best way. We won’t be required to pay or charge GST at all, but of course will be subject to tax on profits, but as the business doesn’t have a huge turnover, our combined tax contributions will be little or none, depending on expenses.

My main concern was having to enter all those customers, suppliers, items etc. again from scratch, or maybe it can be exported and imported


Depending on how long you have been using Manager, you could “Add Business” - “Import Backup” which creates a new business and delete all previous financial transaction. Maybe easier then re-entering other data as exporting/importing may not transfer all data

To do this you need to do the following in the last week of June (or before):

  1. Go to Settings - Business Details and complete (if you haven’t already}.
  2. Do a backup
  3. On the Summary page - rename your existing business name to “xyz (NI)” - this wont change the business names on Invoices etc., as step (1) details overrides Summary page business name.
  4. Add Business - Import Backup: this will create a new business, not override the existing one.
  5. Either leave the Summary page business name as is or change to “xyz (Au)” your call.
  6. Delete financial history and start using from Jul 1
  7. Once all “xyz (NI)” transactions are completed the Opening Balances in xyz (Au) can be entered

Talk to a local accountant with regards to the final NI GST return and cash basis accounting - June transactions paid July. You may find that the GST needs to be included in the Return as the NI Govt wont want to miss out on revenue.

One idea I have is to add ability to “purge” historical transactions.

The way it would work is that you would set new “start date” and Manager would adjust starting balances for all accounts for this new start date and purging all transactions before the start date.

That would be perfect, thank you

One additional step, in xyz (Au) go to Settings - Tax Codes and delete NI GST code

Thank you for you extra information. What do you think about the idea Lubos has suggest about a purge button.

If the option is available, a lot quicker then deleting individual transactions. The purge button would be used at step 6 - deleting financial history.

Would that be a possibility in the short term

Could we get this purge option soon please

Not sure if this will be done by end of June. It could be…

It would be very helpful if you could

Any news on this feature. Less than a week to go, if it is possible it would be helpful

Thanks for the reminder, I will try to implement it next week.

Thank you, it would be appreciated

Any chance this could happen today 30/06/2016