Discussions
Stay up-to-date with the latest news from NetSuite. You’ll be in the know about how to connect with peers and take your business to new heights at our virtual, in-person, on demand events, and much more.
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
New AI Community Guidelines. Please review and follow them to ensure AI use stays safe, accurate, and compliant.
Stay in the Know
Be sure you're subscribed to NetSuite communication to stay in the know about monthly happenings, updates and announcements. Subscribe
Be sure you're subscribed to NetSuite communication to stay in the know about monthly happenings, updates and announcements. Subscribe
Workflow for processing GST Monthly
We are a new user of NS, software edition.
Can someone please explain what the process is for processing monthly GST returns is. I have had two NS trainers attempt, & both got confused!!
I have two GST accounts, one for GST collected & one for GST Paid (ITC's).
& I have a third GST Liability account. At end of filing period workflow should be to:
CR) GST - ITCS a/c
DR) GST - Collected a/c
CR) GST Liability a/c.
I assume that the software would mark the appropriate trxn's as "filed".
The net liability would now be in the payable account, awaiting disbursment.
0