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GST on Expenses

Understanding how GST works on your business expenses.

How It Works

In FairBooks, expense amounts are entered GST-inclusive. You then specify the GST component separately.

For a standard GST expense:

  • Amount: $110.00 (total paid)
  • GST Amount: $10.00 (the GST portion)

No GST?

For expenses with no GST (e.g., bank fees, some insurance), set the GST Amount to $0.00.

Impact on BAS

GST claimed on expenses reduces your GST liability in your BAS report. FairBooks uses cash basis accounting, so only expenses with a paid date within the BAS period are included.

See BAS Reports for more details.