Setting up your company for GST
Easy steps to get you GST ready.

Your guide to GST processing.

Get started with 7 easy steps to GST

Here are our recomended steps to set up your company for GST.


Lets get started!

Step 1:
Update your Company Settings

Confirm your Tax Types and include your Major Industry Codes, then set up your Invoice and Statement layouts.

Step 2:
Update your Masterfiles

Item Masterfile

- Set the Default Tax Types on Sales and Purchases of Items


- Set the Major Industry Code per Item



Customer Masterfile

- Business Registration Number


- GST Status verified



Supplier Masterfile

- Business Registration Number


- GST Status verified


- RMCD Approval Number



Close-off your SST Tax Period and set up GST Tax Periods


Assign Account numbers to your accounts


Step 3:
Update your Company Settings

Tax Settings

- If you are GST registered make sure your Tax System is set to Invoice Based.


- Include your GST/Tax number under the Tax Details Section.


- Ignore the Tax Period dates and Tax Period frequency – you will set this up later.


- The system has set your default Tax Type to “S [SR] Standard-rated supplies”, this should be the Tax Type you expect to use the most, you can change your default Tax Type to another GST tax type if you wish by clicking on the default checkbox.



Major Industry Codes

- These can be set up under Company Details…Additional Company Information.


- Add all the codes that are relevant to your company.


- The default Major Industry Code will be used for any new items you create.



Other additional information fields

- Under Additional Company Information.


- Include your Company’s City, State and Country.


Step 4:
Update your Masterfiles

Item Masterfiles

To get to your item masterfile go to Items Menu > Lists > List of Items > click on 'Edit'.

For each of your items you need to:


- Assign the correct major industry code as set up in Company Settings.


- Set up the correct default tax type for sales transactions


- Set up the correct default tax type for purchases transactions


Customer and Supplier Masterfiles

To get to your Customer or Supplier masterfile go to Items Menu > Lists > List of [Customers]/[Suppliers]> click on 'Edit'.

For each of your customers or suppliers you need to:


- Enter their Business Registration Number.


- Enter their GST Status Verified.


- For suppliers only: Remember to enter the RMCD Approval Number for Self-Billed Invoice.


- Include your customer’s country on your customer masterfile under User Defined Fields.


Get started today.