Skip the data entry ‘lecehness’ by simply synchronising the Published GST-03 report in SmartTax with Xero.
It’s pretty simple. Let us show you how.
Once you’ve Published the GST-03 report, you may refer to ‘Dashboard’ or ‘GST Reports’ tab to access all the GST report you’ve generated previously. (refer Diagram 1)
When you click the ‘View Report’ button, you’ll see the ‘Save to Xero’ button in blue. (refer Diagram 2)
Once clicked, this ‘Save to Xero’ button pushes the data from SmartTax back to your Xero accounting software and create a new sales or purchase invoice in Xero. You can then reconcile this transaction with your bank statement.
You will also notice that the ‘Reference’ description is auto-generated.
While in Xero, if you want to cross-reference to your actual GST-03 report which you’ve submitted, simply click the ‘Go to SmartTax’ button at the top left corner of the bill. (refer Diagram 3)
The amount reconciled will appear in your bank statements either through your daily bank feeds or for those with more tolerance level, you can wait to import a bank statement.
It’s that simple. Give it a try or if you need help, connect with us by clicking the chat icon on the bottom left corner of your screen OR send a shout out via email@example.com