Issue

My client has a commercial property and they charge the tenant GST on water and council rates. How do I set up these expenses in Class so the GST will be calculated?

Cause

In Class, water and council rates by default are set up as non-creditable acquisitions as they are generally GST-free supplies. 

Resolution

To resolve this issue, create a new Income/Expense Type at the Business level and a business event at the Fund level.

Create New Income/Expense Type

Navigate to Business Level > Settings > Investment Expense

1. Select Category Type as Property Expenses
2. Click on Add New Income Expense Type
   
   
3. Create a new expense type and for the GST Category select Creditable Acquisition 
   
   

To create the business event

Navigate to Fund Level > Transactions > General Investment Expense

• Select Water with GST from the Drop-down list for Expense Type
  
  

We recommend you set up a new Income/Expense type, instead of changing the existing Income/Expense type. The existing Income/Expense types may be used by other funds.