I have an investment property and I receive the Rent which includes GST. I don’t generate in invoice for it, it just goes straight into my bank account and I break it up into ext GST and GST and the same for the expenses.
The only way I seem to be able to get GST listed in Summary is to set up an account in the Profit & Loss Statement in which case it shows as income.
How do I set it up to show the GST from the bank account as a Liability in Balance Sheet?