If you are registered for GST, then the GST Input Tax that you pay and claim as an Input Tax Credit cannot be claimed as a tax deduction. Similarly, you do not pay income tax on the GST collected.

The Tax Office GST Worksheet and Business Activity Statement were designed to report gross amounts including GST. Your GST is determined by dividing the net result by 11. However, for income tax purposes (and general accounting purposes) GST is not included.

Cashflow Manager is designed to do this automatically through its unique column format and GST Tax Types allocated to the columns. This means that when entering your information, you can simply allocate the gross amount to the column, and your reports will calculate the correct balances.

Report Options – Cashflow Manager
Once a report is selected, there are options to select different parameters for the generation of the report. Different reports have different options such as the ability to select accounts, a date range or specific type of report.
The Choice of Reports table includes a column showing the different Report Options. These are:

A – Account selection. Choose either All Accounts, Current Account or Select Accounts (brings up a list of all accounts to select from).
C- Custom Date Only. Report relates to a specific time period and the only option is to select a custom date.
D – Date Range. Choose a report date range from Last Month, Last Quarter, Last Year, This Month, This Quarter, This Year or Custom (select report start and end periods where appropriate).

Types of Reports – Cashflow Manager
The following table summarises the reports available in Cashflow Manager. More information is included below for reports highlighted by an asterisk*.

Balance Sheet (Movement)

Please Note: Cashflow Manager is not a ‘double entry’ general ledger program that retains opening balances. Nor does it classify columns as Assets, Liabilities or Equity. Therefore, a Balance Sheet Report is not possible.


However, the Balance Sheet (Movement) Report will report the value of the movement in each of the columns that relate to the Balance Sheet.  These cash 'movements' can be added to the Opening Balance to create the Balance Sheet.
The Balance Sheet will list Money In, followed by Money Out, then Bank, Cash on Hand and finally the amount of Profit or Loss.

This report will be useful to your accountant when preparing your financial statements.
 
BAS: The BAS Report includes the information in the GST Report.
An [Adjustments] button is included in the Report Options. Click on the button to record the GST inclusive totals of any Adjustments. There are three rows - for increasing, decreasing and private use adjustments. The row you use will allocate the adjustments to the appropriate box on the GST Report.

Cashflow: Lists your total Money In and Money Out by the column titles you have in your Money In and Money Out Records (in alphabetical order). The total Money Out is deducted from total Money In to calculate your net Money In or net Money Out.
If the amount is positive then your Money In has exceeded your Money Out for the period and you have a positive cash flow. However, if the amount is negative then your Money Out has exceeded your Money In and you may be heading for a cash flow problem if you do not already have one.

GST Report: The Tax Office has produced a GST Calculation Worksheet with 20 boxes that, if completed correctly, will determine your GST Liability and your Input Tax Credits.

The GST Report in Cashflow Manager matches the Tax Office GST Calculation Worksheet. If you have set up the GST types on your columns correctly, the program will calculate all of the information except the amount of any adjustments.
An [Adjustments] button is included in the Report Options. Click on the button to record the GST inclusive totals of any Adjustments. There are three rows - for increasing, decreasing and private use adjustments. The row you use will allocate the adjustments to the appropriate box on the GST Report.

Increasing adjustments are those that either increase your GST payable or decrease your entitlement to input tax credits. For example, if the amount for a sale has increased and you have included the lower amount at G1 on your Business Activity Statement (current or previous).

Decreasing adjustments either decrease your GST payable or increase your entitlement to input tax credits. Examples are cancellation of a sale, discounts given for early payment, bad debts that have previously been included at G1 etc.

The Tax Office has instructed that if your increasing adjustments exceed your decreasing adjustments then you include the net amount as an increasing adjustment. On the other hand, if your decreasing adjustments exceed your increasing adjustments then you include the net amount as a decreasing adjustment. You do not use both boxes.

Private Use adjustments relate to purchases where you are not entitled to input tax credits because they are either used for private or domestic purposes; or are not tax deductible for income tax purposes.

For example, if your log book indicates that your motor vehicle has 30% private use, then you would include 30% of your motor vehicle expenses (including GST) in box G15.
Please note that your adjustments must be GST Inclusive.


Profit and Loss: Lists Profit and Loss Money In column totals less Profit and Loss Money Out column totals to calculate your net profit or loss.

Trial Balance: Lists the totals of each column in your Money In and Money Out Records together with the totals of your Bank and Cash on Hand amounts. Money In and Money Out columns are printed in alphabetical order.
This is an accounting check on your entries to ensure they balance in accordance with accounting principles. Therefore, this report will be useful for your accountant.

Please Note: Cashflow Manager is not a general ledger program that reports opening and closing balances of accounts. The totals reported in the trial balance, including the bank and cash on hand accounts, reflect the transactions for the period selected and not the balances of accounts.

Please Note
: It is possible for the Debit and Credit columns of your Trial Balance to differ by a few cents. This is not an error in your records. Rather it is due to the ‘rounding’ of the GST when calculating 1/11th of the column values. 

Running a Report:
When in the Reports section of Cashflow Manager, a list of all reports will appear.
Simply find the report you wish to preview, and click on [Continue].

This will take you to the Report Options screen, where you can make your Account selections and Date Ranges. Once this is done, click [Continue].

The preview of the report is then generated automatically, showing all calculated figures.
Some reports, (E.g. Balance Sheet), do not go to the Preview screen. They go to a Grid Type report that has a preview icon at the bottom left of the screen.

Please Note: some reports also include a Drill Down function. This feature on the Transaction Listing report allows you to click on report figures, allowing Adjustments to be made. The Balance Sheet drills down to a General Ledger level which then leads to the Adjustment screen.


Printing a Report:
Once the report print preview is generated, you then have a Print option at the top of the screen.
1.Click on the print icon
2.A print preview screen will appear with another print icon to select
3.Once this is selected click [Print]      

Saving a Report:
Reports can be saved in CSV or PDF format.
Once the report preview is generated, you then have a Save option at the top of the screen.
1.Click on the save icon
2.Select either CSV or PDF format
3.Save the report in a location of your choice


Emailing a Report:
Once the report preview is generated, you then have an Email option at the top of the screen.
1.Click on the email icon
2.An email document screen will appear
3.Type in the Send To email address, or use the add symbol to select a Customers email address.
4.The subject line will be prefilled with the name of the report.
5.The report will automatically be attached as a PDF file
6.A generic message will automatically prefill the document. This can be removed and re-typed if you wish.
7.Click on [Send]

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