GST

Synergetic has been designed from the ground up to cater for the requirements of the GST (Goods and Services Tax), used in Australia and New Zealand.

• GST is recorded at the journal level. This:
• Ensures ease of reconciliation.
• Allows for one account code to be used for budgeting and internal school control in all circumstances, regardless of the need to cater for the reporting requirements of the GST. This will minimise the changes required in your internal systems.
• Ensures that you can designate journals as "included on BAS" or "not on BAS". There is a significant need for this flexibility, particularly when clearing suspense accounts, the entries of which have already passed through a BAS.
• Data entry options are provided to allow the most efficient entry from supplier invoices. For example, either:
• Tax can be included or excluded.
• GST can be recorded line by line or only as a single entry on an invoice.
• Flexible tax invoice printing. For example:
• Statements can be printed with no reference to GST. Normally, GST would appear on a statement.
• Selected debtors can be flagged to print tax invoices. For example, if under a salary sacrifice arrangement. This need only be done if your normal statement does not include GST.
• Business Activity Statement creation.
• Synergetic records the tax status of all purchases at the journal level not just the account level. This allows Synergetic to provide any of the details on the current version of the Business Activity Statement.