Setting Up General Ledger Accounts for GST

Use the example in this table to set up general ledger accounts:

Business Unit	Object Account	Subsidiary	Account Description	Posting Edit Code	Level of Detail
1	1600	.	Goods and Services Tax	N	5
1	1610	.	GST Return Clearing	.	6
1	1610	GSTADJ	GST Tax Adjustments	.	6
1	1610	GSTPURCH	GST Taxes Input Credits	M	6
1	1610	GSTSALES	GST Taxes Output Debits	M	6

Note the M posting edit code (machine-only postings). To allow for payments to the ATO and to allow manual journal adjustments, you must create additional accounts without the M posting edit code.

Reconcile the rolled-up net GST amount at level of detail 5 to the amounts that are reported on the Business Activity Statement.

The rolled-up balance is transferred to this GST payable account in the balance sheet:

Business Unit	Object Account	Subsidiary	Account Description	Posting Edit Code	Level of Detail
1	4431	.	GST Payable	M	6

If the rolled-up balance indicates a net claim for GST credits, an AR invoice transfers the rolled-up net credit total to this GST Credits Receivable account in the balance sheet:

Business Unit	Object Account	Subsidiary	Account Description	Posting Edit Code	Level of Detail
1	1240	.	GST Recoverable	M	6

See also:

• "Setting Up Accounts" in the JD Edwards EnterpriseOne Applications Financial Management Fundamentals Implementation Guide