When moving from Fast Recording to Detailed Audit Methods, the following process is recommended:
(A)
Decide on a transition date as close as possible to just after the end of your monthly or quarterly GST reporting cycle.
(B)
Review your chart of accounts in your general ledger and add default Tax Code entries to all accounts where it is applicable to do so.
This may save considerable time when users enter transactions into the system, as expenses and other allocations will be assigned sensible tax codes by default.
[C]
Activate "Detailed Audit" mode as follows.
1. Log in as an administrator
2. Click on "Maintenance" (bottom left corner of application window)
3. Click on "Customise" (near top left)
4. From the main menu select Install Settings|Taxes
5. Change Tax Recording Type to "Detailed Audit"
6. Press Save (top right corner of application window)
7. Close the software
8. Close all other running copies of the software.*
*This may require you to execute these steps after normal working hours
9. Restart the application on the same computer where you made these setting changes.
10. After logging in you should receive the message that 'Configuration Changes Have Taken Affect'.
* If you do not receive this message or receive a message that changes remain pending, this means one or more users are still running the software. If this happens, ensure they close the software and repeat step 9.
(D)
Allow users to now enter supplier and cash book invoices using the new coding method. Users should familiarise themselves with the standard GST tax related codes they can use and also any additional tax codes you have added.
For example:
*Refer to the product documentation for a full list of codes and a more comprehensive explanation of their meanings.GST - 10% GST
GSI - 10% GST inclusive within the entered price
FRE - GST Free
INP - Input Taxed (bank charges, etc.)
FSP - Foreign Supply (no local GST)
ADJ - GST tax adjustment
ITA - GST tax
(E)
For the next reporting period, when running the GST tax reports, the system may complain that tax codes have not been fully coded. This is possible because prior periods may not have been fully coded using the new method over the transitional time period. Since this is probable, it will be necessary to switch back temporarily to the Fast Recording method in order to run the older style reports.
Repeat the steps outlined in Section C, except switch back to "Fast Recording"
As soon as reporting is completely, immediately repeat Section C and re-activate "Detailed Audit" before any further data entry is performed.
It is unlikely to be necessary to have to repeat Section E more than once. Once the applicable period(s) have been fully coded, the more detailed GST reports can be fully utilised.
