GST handling in Mclowd has been painful... but the good news is that processing has now been automated!
Mclowd now support automated GST calculation.
If you have been manually entering GST and have balances in accounts 2-1000 GST Paid, 2-1010 GST Collected or 2-1020 GST Clearing please refer to Transfer GST from old accounts to new for instructions for transferring these amounts to the new 2-1030 GST Payable/Refundable Account.
Please refer to GST Handling in the How To sections for instructions on managing GST using the updated Mclowd functions.
If your Fund is registered for GST, you must now go to the Fund Setup option on the Settings Menu and select Fund Details.
A new field labelled "Enable GST" appears under Tax File Number in the top Fund Details panel.
Select YES in the drop-down selection box to enable GST processing.
Scroll down to click SAVE DETAILS.
Scroll down and click the SAVE DETAILS button.
Mclowd will now automatically calculate GST where appropriate on income and expense entries.