PODSYS Update Notes

GST Rate update - October 2010

Date: 27 September 2010

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PODSYS has been updated to cater for the new NZ GST Rate of 15% from 1 October 2010.

GST Rates in PODSYS are now managed automatically.  That is; the GST rate on the Options (Menu > view > Options) is 
now informational only and it cannot be updated.


INVOICES
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Invoices dated from 1 October 2010 will have 15% GST and invoices prior to that will have a rate of 12.5%.  

The date can be changed on "Open" invoices (eg. Sep to Oct) and the GST (and net amounts) will be re-calculated 
correctly.

An associated change is that, when using Quick Bill, invoices are now dated the same as the Consultation - rather 
than the the date you click the "Create Invoice" button.



PRODUCTS
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PODSYS stores the GST inclusive value of products/services.  Therefore, a $45 consult would net you $40 at 12.5% GST. 
From October 1 this same consult will net you $39.13.  The GST and NET amounts shown on the Product Maintenance screen 
are AS AT the current date and will change from October 1 automatically.   

If you need to increase your prices to offset the GSt increase be sure to do this in the Product Maintenance screen 
before business starts on OCtober 1.  ACC subsidies may also need to be adjusted.


If you have any questions please phone us on 09 376 7132 or email support@nativesoftware.co.nz 




Native Software Ltd.