GST or VAT reporting changes

More work has been done around printing the GST or VAT reports for property managers. If you go to Functions/Setup/Income Groups or Functions/Setup/Expense Groups you can now choose to exclude specific groups from GST reporting. The GST reporting is intended for printing the GST obligation of the property manager.  However commercial property managers often receive rent inclusive of GST.  That GST amount however is not normally paid by the property manager, but is paid by the property owner.  Therefore for GST reporting purposes, it would be necessary to exclude Rent from the GST report.  The same could also apply to other income or expense groups.  Generally the only income the property manager has which incurs GST is the management fee. The existing report called Tax Summary has been modified to exclude income or expense groups which are specified as excluded from GST reporting. A new report has also been created called New Zealand GST Calculation.  This is intended for New Zealand customers only.  It will print a report in a similar format to the New Zealand GST return, and could be used as a basis for completing your return.