Manage GST code in QuickBooks 2007/08 Asia version?

How to turn on the GST feature in QuickBooks?

GST feature by default was not being turned on. To turn on the GST feature, go to Edit menu and select Preferences. In the Preferences window, select Tax icon and follow by Company Preferences tab. In the Company Preferences tab, Under “Do you track Tax?” field, select “YES” radio button.

Add/Edit GST Code.

To add a new GST Code, go to List menu and select Tax Code list. In the Tax code list, click the Tax Code button and select New to add a new tax code.

In the Tax Code Profile:

    Type: Select “Goods and Services Tax” from the drop down list.

    Tax Code: you can enter such as “GST7”; or a GST code name that you preferred.

    Rate: Enter as “7.00%” for 7% GST.

    Description: you can enter such as “7% GST”; or any preferred description of this GST code.

Set GST Default for items.

To set GST default for each item, go to List menu and select Item list. Edit the item and add GST code for both “Purch Tax Code” and “Sales Tax Code” field. Once GST Default is being set, GST code will be shown when you select the item during Invoicing or Enter Bill.

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