How to Generate the GST Liability Report
The GST Liability Report provides you with the data needed to know how much you owe the government in GST, making it a very useful tool for your bookkeeping and accounting needs.
Note: If you have questions beyond the information presented in this article, we advise that you talk to your accountant, or contact the ATO in Australia or the IRD in New Zealand.
Access Your Report
To access the GST liability report, go to your Financial Reports section, located in the company section in the left navigation, and click the View Report button next to the GST Liability report.
Generating Reports for Accrual or Cash Accounting
You can generate a report using either cash or accrual accounting methods.
- When using accrual accounting, the report is based on the total GST amount of your invoices, paid, partially paid, and unpaid. This includes invoices that have been issued, marked as paid, and have been sent to clients. However, draft invoices, deleted invoices, or invoices that have been voided are not included in this report. The reference document date in the report is based on the created date.
- When using cash accounting, the report is based on invoices that have been paid or partially paid. The reference date in the report is based on the payment date.
To switch accounting methods, use the dropdown at the top of the report and select the desired method. Make sure to click Generate Report to apply the changes and update the report.
The report will display the total GST that you owe to the government for the time period you've selected, along with a breakdown of the GST for each GST rate that you have set up. You can also filter the report based on dates, GST rates, and projects.
Scroll down to the Linked invoices section to see detailed invoice information so you know exactly which documents are included in the report. Click on an invoice code to be taken directly to the document.
Export to Excel
You can export the report as a spreadsheet by clicking the Export Excel button on the top right.
To learn more about financial reports on Houzz Pro, see this article.
Frequently Asked Questions
1) I pay GST to suppliers, should I deduct the prepaid GST from the total I pay the state?
Our GST liability report does not include prepaid GST deductions. We always advise that you talk to your accountant or contact the ATO in Australia or the IRD in New Zealand to see how to handle prepaid GST and ensure you are properly reporting GST to the government.
2) How do I calculate the total GST amount I have already paid to suppliers?
Run an Outgoing Transactions by Project report for the time frame you're wanting to account for, then scroll to the far right of the report where you'll find the GST Amount column. At the bottom of the GST Amount column you will see the total GST amount you've paid directly to suppliers.