How do I set GST in my QuickBooks Software?

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Note: This is only for India’s QuickBooks User.

Step 1: Register GST

Get registered for GST.If you have already registered for GST then proceed to 2nd steps

GST for QuickBooks companies which have set up tax agencies

Step 2: Add your details/ Information

 

    1. Existing companies which have set up tax agency, no need to set again, you will see the “GST ready” widget on the dashboard page.

 

    1. Enter your GSTIN (If you have not GSTIN don’t worry, It won’t stop you from creating invoices using GST tax rates in QuickBooks) and click Save.

GST for QuickBooks companies without taxes setup

Step 2:

Those Companies who have not enabled tax will see a Setup GST widget on the dashboard page

  • Click Setup GST
  • The Edit GST settings popup will occur
  • Enter Start of the tax period, which would be July 1st, 2017
  • Enter your GSTIN
  • Choose your Filing frequency and Accounting method
  • Click Save

 

GST for all users

Step 3: Know your HSN, SAC codes

  • Know all codes for your products (HSN) and services (SAC) you offer.

Step 4: Record GSTIN of customers, suppliers

 

  • Record GSTIN of your customers and suppliers (if applicable).
  • You can  add your customers’ and suppliers’ GSTIN to facilitate the generation of accurate GST Reports (GSTR)

Step 5: Create GST invoices

  • Learn more on how your invoice changes to be GST ready.

What is a GST-ready invoice (India only)

  • Customize your invoice template to display GST specific information.
  • Customize your invoice to start new invoice number series from 1st of July
  •  Check out the video on invoicing for GST: Invoicing QuickBooks for GST – YouTube

Step 6: Run GST reports

 

  • Create transactions (invoices, expenses) with the new GST tax rates.
  • You will also be able to create backdated transactions (prior to July 1, 2017) using prevailing rates, i.e., Service Tax, VAT.
  • Generate GST Reports (GSTR) or let your accountants generate it to complete filing.

Have Queries? Contact QuickBooks Customer Support.

 

Answered on July 12, 2017.
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