Method 1 - Reallocate between the business expense category and the private drawings category:
Enter a $0.00 journal deposit transaction with 2 dissections:
Refund the increase $ value of private use to the original purchase sub-category, selecting the “A” “Adjustment: Prior Taxable” GST rate.
Allocate the same $ value of personal use to your Personal Drawings with a 0 (not applicable) GST rate.
For example, a $3000 computer purchase was originally estimated at 80% business use. However, business use was later estimated to be 70% or that is, an additional 10% or $300 value for private use…
The effect is to:
Take $300 off the Asset purchases category, while adding a $300 adjustment to G7 of the GST Calculation Sheet for the BAS form.
Add $300 to the Drawings category
Method 2 - Refund the original entry to the business expense category and re-enter using the new %Claimable:
Enter a $0.00 journal deposit transaction with 2 dissections:
Refund the full original entry to the original category, selecting the “A” “Adjustment: Prior Taxable” GST rate. Remember to include the original %Claimable.
Re-enter it using the new %Claimable figure, selecting the “A” “Adjustment: Prior Taxable” GST rate.
For example, a $3000 computer purchase was originally estimated at 80% business use. However, business use was later estimated to be 70% or that is, an additional 10% or $300 value for private use…
The effect is to:
Leave the tax inclusive Asset purchase category total unchanged while adding a $300 adjustment to G7 of the GST Calculation Sheet for the BAS form.
Change the Claimable Exclusive total of the Asset purchase category.
