Xero – Updated GST return
If you use Xero, you will notice they are continually updating and improving its functions. The latest update has been to the GST return.
If you use Xero, you will notice they are continually updating and improving its functions. The latest update has been to the GST return. This is the first of the new Xero report pack releases which are scheduled to be staggered over the next few months. These releases will update the reporting functions whilst giving more flexibility therefore making it easier and user-friendly to report in Xero.
If you used the previous GST return format you will find that it is largely the same. The updated areas are listed below and have been implemented to make it easier for the user:
- Easier to save and manage your GST returns within the GST Report area;
- A warning prompt for any unreconciled items for the GST period;
- Returns automatically generated at the end of the GST period;
- The GST Audit report now fits on the computer screen without requiring a wide view;
- Improved performance for larger organisations.
Your GST set-up will require you to fill out the below when you first go to Reports>GST Return, and then you will be away laughing. Our only suggestion is to be cautious of the Next Period Due date selected. The drop down box defaults to 2012 dates, so ensure you scroll through to 2013 and select the correct period!
If you want to learn more about the GST return and the set it up view the GST Return for New Zealand video.
If you have any further questions on this or Xero please contact either Emma Morrow or Tracy Price at Winstanley Kerridge on 03 578 0180.
Author: Emma Morrow