GST Settlement Australia

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Posted on by Justin Hollis

I have a user who has not used the GST Settlement in NAV and now in Business Central since installation in 2013.

I have posted GST Settlement to 30 June 2022 and then to 30 September 2022. This corrected the GST Ledger and updated the general ledger but did not clear the GST Sales and GST Purchases as at balance date correctly. Instead of the GST Sales and GST Purchases accounts clearing in the General Ledger there are balances in the accounts as at 30 September 2022. I would have thought these accounts should be nil at settlement with the balance transfering to GST Payable. However I have have balances in these accounts which is not correct.

To correct this do I:

1. Adjust the configuration for GST?

2. Manually journal the amounts out at balance date to retained earnings?

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Justin Hollis 5 on at

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I have solved.

It was manual posting in prior periods that were doubled up when we ran the GST Settlement process.

Created a manual journal that shifted balances and it works fine now.

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Marco Mels on at

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Thank you for sharing final outcome. This helps others, great work.

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