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add section for income-gst-statement.scm
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christopherlam committed Feb 3, 2019
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Expand Up @@ -425,7 +425,7 @@ The report also contains links to each customer and to their current customer re
</sect2>

<sect2 id="rpt_grp_incexp">
<title>Income &amp; Expense Group</title>
<title>Income and Expense Group</title>
<para>Reports in this group provide information about Income and Expense</para>

<sect3 id="rpt_cashflow">
Expand Down Expand Up @@ -571,6 +571,200 @@ source code for composing a useful custom report.</para>
date. It is typically run at the end of an accounting period and is primarily
used to ensure that the total of all debits equals the total of all credits.</para>
</sect3>
<sect3 id="rpt_gst_statement">
<title>Income and GST Statement</title>
<para>The Income and GST Statement is a specialised Transaction
Report designed to print Business-related Sales and Receipts, as
well as their GST or VAT components. This report is designed for use
in Australia, but is also usable in any jurisdictions implementing
value-added taxes (or goods and services taxes) during regular
business sales and receipts; and the business owner is expected to
submit periodic reports of total sales, purchases, and taxes
collected on sales from clients or paid to a supplier.
</para>
<para>This report makes some assumptions upon the accounts used for
sales, purchases, and taxes collected on sales, and paid on purchases.
</para>
<itemizedlist>
<listitem>
<para>Net Sales must be an Income-type account</para>
</listitem>
<listitem>
<para>Net Purchases must be an Expense-type account</para>
</listitem>
<listitem>
<para>GST/VAT on Sales must be a Liability-type account</para>
</listitem>
<listitem>
<para>GST/VAT on Purchases must be an Asset-type account</para>
</listitem>
<listitem>
<para>There may be multiple GST accounts, e.g. reduced GST,
standard GST etc. The GST accounts can be printed individually,
or summarised for sales and purchases.</para>
</listitem>
<listitem>
<para>There may be multiple sales and expenses accounts,
e.g. Income:Sales, Income:Grants, Expenses:Suppliers,
Expenses:Marketing, Expenses:Insurance. These amounts may be
reported individually, or summarised for sales and purchases.</para>
</listitem>
<listitem>
<para>The transactions may be entered manually as a multi-split
transaction, or they may be entered via the Business Invoices
and Bills tools.</para>
</listitem>
</itemizedlist>
<para>As an example, consider a business has the following
transactions: It incurs sales of $1,000 plus 5% GST, receiving
$1,050. It also incurs GST-exempt sales of $600. It purchases
goods/services worth $400 plus 5% = $420. The following transactions
will record the business activities:
</para>
<table>
<title>Sample Chart of Accounts</title>
<tgroup cols="3" colsep="1" rowsep="1">
<colspec colname="date"/>
<colspec colname="desc"/>
<colspec colname="account"/>
<colspec colname="debit" align="right"/>
<colspec colname="credit" align="right"/>
<thead>
<row>
<entry>Date</entry>
<entry>Description</entry>
<entry>Account</entry>
<entry>Debit</entry>
<entry>Credit</entry>
</row>
</thead>
<tbody>
<row>
<entry morerows="2" valign="top">01/01/2018</entry>
<entry morerows="2" valign="top">Sales $1,000 + 5% GST</entry>
<entry>Income:Sales</entry>
<entry></entry>
<entry>$1,000</entry>
</row>
<row>
<entry>GST on Sales [Liability]</entry>
<entry></entry>
<entry>$50</entry>
</row>
<row>
<entry>Asset:Bank</entry>
<entry>$1,050</entry>
<entry></entry>
</row>
<row>
<entry morerows="1" valign="top">02/01/2018</entry>
<entry morerows="1" valign="top">GST-Free Sales $600</entry>
<entry>Income:Sales</entry>
<entry></entry>
<entry>$600</entry>
</row>
<row>
<entry>Asset:Bank</entry>
<entry>$600</entry>
<entry></entry>
</row>
<row>
<entry morerows="2" valign="top">03/01/2018</entry>
<entry morerows="2" valign="top">Purchase $400 + 5% GST</entry>
<entry>Expenses:Purchases</entry>
<entry>$400</entry>
<entry></entry>
</row>
<row>
<entry>Asset:Bank</entry>
<entry></entry>
<entry>$420</entry>
</row>
<row>
<entry>GST on Purchases [Asset]</entry>
<entry>$20</entry>
<entry></entry>
</row>
</tbody>
</tgroup>
</table>
<para>For the Income and GST Statement, the
<option>Accounts</option> selected will be the Income and Expense
Accounts, and the <option>Tax accounts</option> are used to select
the GST accounts. The GST period is selected via the
<guilabel>General</guilabel> tab. The resulting report is shown as
follows:</para>
<table>
<title>Income and GST Statement</title>
<tgroup cols="8" colsep="1" rowsep="1">
<colspec colname="date"/>
<colspec colname="desc"/>
<colspec colname="tot-sales" align="right"/>
<colspec colname="net-sales" align="right"/>
<colspec colname="tax-sales" align="right"/>
<colspec colname="tot-purch" align="right"/>
<colspec colname="net-purch" align="right"/>
<colspec colname="tax-purch" align="right"/>
<thead>
<row>
<entry>Date</entry>
<entry>Description</entry>
<entry>Total Sales</entry>
<entry>Net Sales</entry>
<entry>Tax on Sales</entry>
<entry>Total Purchases</entry>
<entry>Net Purchases</entry>
<entry>Tax on Purchases</entry>
</row>
</thead>
<tbody>
<row>
<entry>01/01/2018</entry>
<entry>Sales $1,000 + 5%</entry>
<entry>$1,050</entry>
<entry>$1,000</entry>
<entry>$50</entry>
<entry></entry>
<entry></entry>
<entry></entry>
</row>
<row>
<entry>02/01/2018</entry>
<entry>GST-Free Sales $600</entry>
<entry>$600</entry>
<entry>$600</entry>
<entry></entry>
<entry></entry>
<entry></entry>
<entry></entry>
</row>
<row>
<entry>03/01/2018</entry>
<entry>Purchase $400 + 5% GST</entry>
<entry></entry>
<entry></entry>
<entry></entry>
<entry>$420</entry>
<entry>$400</entry>
<entry>$20</entry>
</row>
<row>
<entry>Totals</entry>
<entry></entry>
<entry>$1,650</entry>
<entry>$1,600</entry>
<entry>$50</entry>
<entry>$420</entry>
<entry>$400</entry>
<entry>$20</entry>
</row>
</tbody>
</tgroup>
</table>
<para>This report would indicate that there was a total of $50 GST
collected, and $20 GST on purchases, therefore a $30 GST liability
is payable to the authorities.</para>
</sect3>
</sect2>
<sect2 id="rpt_grp_sampcust">
<title>Sample &amp; Custom Group</title>
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