GST/HST Rate Change on July 1, 2006
Changing the GST rate in AgExpert Analyst to match the GST/HST change
On July 1, 2006, the GST rate will decrease to 6% and the HST rate will decrease to 14% in respective provinces. Follow these instructions to change this setting in AgExpert Analyst software when you are ready to enter transactions using the new GST/HST rate.
To prepare for this change, we recommend that you separate your invoices and receipts prior to July 1 from those using the new rate. For ease of entry, enter all pre-July 1 invoices and receipts first. Then change the tax rate (as described below) to complete entries using the new tax rate. As you process your invoices and receipts, the option to manually override the automatic GST/HST tax calculations is always available while entering individual transactions that were missed using the old tax rate. This allows you to easily enter transactions from prior months.
Here’s how to change the GST/HST rate in AgExpert Analyst
- From the Setup Menu, click on Business Setup. The Business Setup dialog window will be displayed. Select Tax Information tab.
- Enter the new GST/HST Rate (%). The Goods and Services Tax Rate/Harmonized Sales Tax rate entered here is used as the percentage for the program’s GST/HST calculations when making transaction entries. This GST/HST rate can be changed at any time. Transactions that were recorded before the change was made will not reflect the new GST/HST rate. This field is required for use in GST/HST calculations.
If you have any questions, please contact the AgExpert Product and Support Centre at 1-800-667-7893 or e-mail Support@fccsoftware.ca.
