{"id":132,"date":"2018-09-06T09:37:06","date_gmt":"2018-09-06T02:37:06","guid":{"rendered":"https:\/\/www.support.skybizglobal.com\/?p=132"},"modified":"2018-09-06T09:37:06","modified_gmt":"2018-09-06T02:37:06","slug":"how-to-enter-gst-payment-and-refund","status":"publish","type":"post","link":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/how-to-enter-gst-payment-and-refund\/","title":{"rendered":"How to enter Gst Payment and Refund"},"content":{"rendered":"<p><strong>Below are suggested accounting entries for GST payment and refund.<\/strong><\/p>\n<p><strong>Scenario 1:\u00a0Output more than Input<\/strong><\/p>\n<p><strong>Step 1 : Create a new account code [GST Payable or Refund Account]\u00a0<\/strong><\/p>\n<p><strong>Go to Chart of Account (COA) &gt; expand B72 &gt; right click B72-0000 &gt; click Add a new account under this level &gt; create account named &#8220;GST Payable &amp; Refundable&#8221; &gt; Add New<\/strong><\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.skybizglobal.com\/ticket\/kbimage\/k_gstpayableandrefund1.jpeg\" alt=\"\" width=\"1028\" height=\"707\" \/><\/strong><\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.skybizglobal.com\/ticket\/kbimage\/k_gstpayableandrefund2.jpg\" alt=\"\" width=\"1024\" height=\"706\" \/><\/strong><\/p>\n<p><strong>Step 2 : Create a General Journal<\/strong><\/p>\n<p><strong>Go to General Journal (GJ) &gt; debit GST Input Tax a\/c; credit GST Payable &amp; Refundable\u00a0a\/c &gt; Add New<\/strong><\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.skybizglobal.com\/ticket\/kbimage\/k_gstpayableandrefund3.jpg\" alt=\"\" width=\"1022\" height=\"706\" \/><\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>Step 3 : Create a Payment Voucher<\/strong><\/p>\n<p><strong>Go to Payment Voucher (PV) &gt; General Ledger &gt; credit bank a\/c, debit GST Payable and refundable a\/c &gt; Add New<\/strong><\/p>\n<p><strong>\u00a0<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.skybizglobal.com\/ticket\/kbimage\/k_gstpayableandrefund4.jpg\" alt=\"\" width=\"1024\" height=\"706\" \/><\/strong><\/p>\n<p><strong>Scenario 2: Input more than Output<\/strong><\/p>\n<p><strong>Step 1 : Create a new account code [GST Payable or Refund Account]\u00a0<\/strong><\/p>\n<p><strong>Go to Chart of Account (COA) &gt; expand B72 &gt; right click B72-0000 &gt; click Add a new account under this level &gt; create account named &#8220;GST Payable &amp; Refundable&#8221; &gt; Add New<\/strong><\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.skybizglobal.com\/ticket\/kbimage\/k_gstpayableandrefund1.jpeg\" alt=\"\" width=\"1028\" height=\"707\" \/><\/strong><br \/>\n<strong><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.skybizglobal.com\/ticket\/kbimage\/k_gstpayableandrefund2.jpg\" alt=\"\" width=\"1024\" height=\"706\" \/>\u00a0\u00a0<\/strong><\/p>\n<p><strong>Step 2 : Create a General Journal<\/strong><\/p>\n<p><strong>Go to General Journal (GJ) &gt; credit GST Onput Tax a\/c; debit GST Payable &amp; Refundable\u00a0a\/c &gt; Add New<\/strong><\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.skybizglobal.com\/ticket\/kbimage\/k_gstpayableandrefund5.jpg\" alt=\"\" width=\"1024\" height=\"704\" \/><\/strong><\/p>\n<p><strong>Step 3 : Create an Official Receipt<\/strong><\/p>\n<p><strong>Go to Official Receipt (OR) &gt; General Ledger &gt; debit bank a\/c, credit GST Payable and refundable a\/c &gt; Add New<\/strong><\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.skybizglobal.com\/ticket\/kbimage\/k_gstpayableandrefund6.jpg\" alt=\"\" width=\"1020\" height=\"706\" \/><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Below are suggested accounting entries for GST payment and refund. Scenario 1:\u00a0Output more than Input Step 1 : Create a new account code [GST Payable or Refund Account]\u00a0 Go to Chart of Account (COA) &gt; expand B72 &gt; right click B72-0000 &gt; click Add a new account under this level &gt; create account named &#8220;GST ..<\/p>\n<div class=\"clear-fix\"><\/div>\n<p><a href=\"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/how-to-enter-gst-payment-and-refund\/\" title=\"read more...\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-132","post","type-post","status-publish","format-standard","hentry","category-financial"],"_links":{"self":[{"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/posts\/132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/comments?post=132"}],"version-history":[{"count":1,"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/posts\/132\/revisions"}],"predecessor-version":[{"id":133,"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/posts\/132\/revisions\/133"}],"wp:attachment":[{"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/media?parent=132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/categories?post=132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aisupport.skybizglobal.com\/skybizoffline\/wp-json\/wp\/v2\/tags?post=132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}