How do I get a Profit and Loss report so show with GST inclusive amounts?

My budget includes both personal and small business costs and I want to run a report to compare my actual costs against my budget but to change my budget to show GST exclusive costs is too complicated. I have found that the profit and loss report does what I want other than to show GST inclusive costs, how to I run a report to show taxable amounts?

Answer

Hello  brian,

Profit and Loss report would only show the exclusive of GST amounts, as the GST amounts would show in balance sheet report under BAS liabilities payable account.

As there are transactions with or without GST, this report needs to be exclusive of GST to show the true value of profit or loss.


Hope this explains, thank you

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