Entry Coding

Transaction Coding

For data entry purposes there is actually only two codes you may need to use.

'U' for unpaid and is used to identify either A/R or A/P - GC determines which depending on the account that you use. You really only need to use 'U' if you require cash statements, otherwise these are not required.

On the other hand, 'P' is used to identify when an entry is prepaid. Whether you're requiring cash statements or not, this is a great way to let GC do the heavy lifting for you when it comes to claiming the proper amount of expense in a year. For this to work properly, the date should be the true transaction date as this is used in the calculation.

After you enter the 'P' code you will be prompted for the date at which the prepaid is finished. Enter that and click save.

'B' coding an entry is a temporary command to GC that will calculate and post the amount required to balance an account to the amount you have entered. After you end 'B' into the transaction code you will notice that the amount that you have just entered change (that is assuming that there are previous entries posted to that account - otherwise the entry you made will remain the same)

Sales Tax Coding

Currently there are five sales tax codes in GC:

1. E - indicates the entry is exempt of GST
2. N - indicates there is no sales tax on the entry
3. G - GST rate of 5% applies to the entry
4. S - PST rate of 10% for Saskatchewan plus GST rate of 5% applies to the entry
5. B - PST for British Columbia plus GST rate of 5% applies to the entry

Since both sales taxes in Saskatchewan and BC are not VAT (like GST) there is no offsetting tax credit to what is collected, so it should generally be payable.

In cases where PST is a part of revenue, a separate entry is required to record the payable. Generally it's DR to revenue and CR to the payable.