Prepare your GST return

End-of-period procedures > Month-end procedures > Task 6: Prepare your GST return

Task 6: Prepare your GST return

Many businesses are required to submit their GST returns monthly, two‑monthly or six-monthly. Regardless of your reporting frequency, you can use the Prepare GST Return function to fill out your GST return.

There are several tasks you should complete in preparation to lodge your first GST return. These are detailed below.


Task	Description
1	Review your GST codes setup. The GST return report relies on the setup of your GST code to complete the report fields. You need to make sure that your GST codes are set up correctly before generating this report. For example, make sure that you have selected the GST Code is Reported on GST Return option for zero-rated GST codes and deselected the option for exempt GST codes in the GST Code Information window for these codes. See ‘Setting up GST codes’ for more information on creating GST codes.
2	Enter your GST return information. You enter your GST return information in the Prepare GST Return window (click Prepare GST Return in the Accounts command centre). Some of the information you can set up includes your accounting basis, reporting frequency and the accounts that you use to track GST adjustments (for boxes 9 and 13 on the return).

tip : Other GST reports

There are several GST detail reports available in the Index to Reports window. You may also want to review these reports before preparing your GST return. For more information about reports, see ‘Producing reports’.

After you have completed the steps listed above, you can prepare your GST return.

To prepare your GST return

1	Go to the Accounts command centre and click Prepare GST Return. The Reporting Period window appears.

2	Select the last month of your reporting period.

3	If you have set up your company file with 13 periods, and want to include the 13th period transactions in your return, select the Include 13th Period Transactions in Report option.

4

Select the GST reporting period and select the GST accounting basis which your business uses to report GST. This is the accounting period and basis chosen by your business when you registered for GST. If you are unsure which basis your business uses, find out from your accountant or the Inland Revenue Department.

5	Select the accounts you use to record GST Input and GST Output tax adjustment activity.

6	Click Preview GST Return. The Print Preview window appears, displaying your GST return information.

7	If the information on the report is correct:

a	click Print to print a copy of the report.

b	Copy the values from the report to the GST return form provided by Inland Revenue.

8	If you need to edit your GST return information, click Close to return to the Prepare GST Return window.

▪	Task 7: Lock periods

▪	Month-end procedures

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