To help you update your records in readiness for the GST increase from 12.5% to 15% (effective 1 October 2010), the following has been included in this version of your software:

• GST Transitional Assistant – Use the Assistant to create a new GST code, update the default GST codes used on items, cards, activities and accounts, update recurring transactions and update item prices.
• Updated GST Return – To ensure you accurately report GST, your software contains both a pre- and post-October GST return. If your reporting period spans September and October, a two-part return will be used to calculate 12.5% GST amounts and 15% GST amounts separately in your reporting period.
• GST reports – Special reports have been provided to help you calculate one-off GST adjustments and complete your transitional GST return. (Payments and hybrid basis accounting only.)