In this release, for our Australian sites, we have introduced three new duty types to the Chart of Accounts:
- Duty
- GST
- Other Charges
For existing records the old Duty option has been renamed to ‘Total Payable’, the total payable option maintains the functionality of the old Duty.
For all sites where an account existed with Duty Type = Duty, this will be migrated to Duty Type = Total Payable.
The three new options allow users to split out Duty, GST & Other Charges to allow for more accurate billing.
In the Chart of Accounts only one Total Payable account may be specified, OR the three Duty/GST/Other Charges split accounts not both.
As a result of this update, when running the Management -> Finance -> Job – Profit Analysis report with split Duty types Duty/GST/Customs, the following columns will be effected:
- Customs Liabilities
- Will include GL Codes with Duty Type = Duty, Other Charges OR Import Fees
- Revenue Realised
- Will not include GL Codes with Duty Type = Duty, Other Charges OR Import Fees
- Revenue Accrued
- Will not include GL Codes with Duty Type = Duty, Other Charges OR Import Fees