GST Reconciliation workpaper (GRC)

How the GRC workpaper consolidates GST return data, ledger figures, and adjustments from ENT, OIC and HOM workpapers.

The GST Reconciliation (GRC) workpaper reconciles the GST returns filed with Inland Revenue against the General Ledger (GL) balance, incorporating adjustments from other workpapers. This is one of the most interconnected workpapers in the system.

Data extraction

GST return information

All yellow fields (except Prior Year Adjustments, which must be entered manually) are auto-populated from the GST Return Summary report uploaded under Data Sources (IRD).

General Ledger data

  • GL Output Tax and GL Input Tax: Picked from the GPV workpaper.

GST ledger information

  • Accounts Receivable per: Auto-picked from the Accounts Receivable (ACR) workpaper.
  • Accounts Payable per: Auto-picked from the Accounts Payable (ACP) workpaper.
  • The remaining figures in the yellow cells need to be entered manually.

Adjustments

When users make adjustments through manual journals, these will automatically appear in the adjustment section. Users can also edit the workpaper and add adjustments directly if required.

Other adjustments (from related workpapers)

Adjustments from the following workpapers are automatically populated in the "Other Adjustments" section once those workpapers are completed:

  • Entertainment (ENT)
  • Other Income (OIC)
  • Home Office (HOM)

Users can also add adjustments in the yellow fields if required.

Ledger Total

Sum of all account codes mapped under GST in Chart of Accounts (CoA) mapping.

Related workpapers

  • GST Period Variances (GPV): Provides GL Output and Input Tax and receives the return figures in return.
  • Accounts Receivable (ACR): Provides the Accounts Receivable balance.
  • Accounts Payable (ACP): Provides the Accounts Payable balance.
  • Entertainment (ENT), Other Income (OIC), Home Office (HOM): Feed adjustments into this workpaper.
  • Sales Reconciliation (SRC): Pulls primary sales data from this workpaper.

How to access

  1. Go to Jobs and open the relevant job.
  2. Click the Workpapers Icon or navigate to Results then Workpapers.
  3. Select GRC on the Workpapers Dashboard.