GST Period Variance workpaper (GPV)

The GST Period Variance workpaper compares the GST figures per the GST return against the GST figures per the General Ledger, for each GST period, and highlights any variance for review.

Data extraction

How the workpaper sources its figures depends on whether a Xero GST Reconciliation Report has been uploaded to the Client Ledger:

  • If a Xero GST Reconciliation Report is uploaded, the General Ledger GST figures are ignored, and the workpaper is populated from the Xero GST Reconciliation Report instead (see below).

  • If a Xero GST Reconciliation Report is not uploaded, the existing process is followed (General Ledger GST figures are used as normal).

Data mapping, Xero GST Reconciliation Report uploaded

  • Income variances (GST Collected): the amounts entered against Output Tax Per Return are sourced from the "GST Collected" column of the Xero GST Reconciliation Report.

  • Expense variances (GST Paid): the amounts entered against Input Tax Per Return are sourced from the "GST Paid" column of the Xero GST Reconciliation Report.

Data mapping, Payments/refunds variance

For each payment listed in the Payments/refunds variance section, the workpaper searches the "GST Account Transactions" table in the Xero GST Reconciliation Report for a matching amount:

  • Only transactions whose Transaction description contains one of the following keywords are considered: "Inland", "IRD", or "I.R.D".

  • If a match is found, the amount is entered against that payment. If no match is found, the cell is left blank for manual entry.

  • For payments that remain unmatched, any GST Account Transaction amounts already used elsewhere in this section are excluded, and combinations of the remaining GST Account Transaction amounts are tested to find a match. If a combination match is found, it's entered against the payment; if not, the cell is left blank for the user to enter manually.

Section structure

GPV has three sections, each listing every GST period in the job:

  • Income variances: Period Ended, Output Tax Per Return, Output Tax Per GL, Variance, Explanation. A Total Income Variance row sums the section.

  • Expense variances: Period Ended, Input Tax Per Return, Input Tax Per GL, Variance, Explanation. A Total Expense Variance row sums the section.

  • Payments/refunds variance: Period Ended, (Payment)/Refund Per Return, (Payment)/Refund Per GL, Variance, Explanation. A Total Payments/Refunds Variance row sums the section.

The Variance column flags any difference between the return and GL figures for review, and each period's Explanation field is available for noting the reason behind a variance.

How to access

  • Go to Jobs and open the relevant job.

  • Click the Workpapers icon, or navigate to Job Results then Workpapers.

  • Select GST Period Variance (GPV) on the Workpapers Dashboard.