Accounting Package Specific Settings

Xero

Code

Tax Type

Default Tax Setting

GST-EX

GST Expenses

GST on Expenses

EXM-EX

Exempt Expenses

No GST

GST-IN

GST Income

GST on Income

EXM-IN

Exempt Income

No GST

Quickbooks

Quickbooks will handle the tax calculations on their side of the integration. Please ensure your income tax rates are set to the same tax code regardless of the percentage.

If you're using Quickbooks Australia or New Zealand please see the following table:

Code

Tax Type

Default Tax Setting

GST-EX

GST Expenses

GST on purchases

EXM-EX

Exempt Expenses

GST free purchases

GST-IN

GST Income

GST

EXM-IN

Exempt Income

GST free

If you're using Quickbooks in North America please see here:

MYOB

Code

Tax Type

Default Tax Setting

GST-EX

GST Expenses

Goods & Services Tax

EXM-EX

Exempt Expenses

GST Free

GST-IN

GST Income

Goods & Services Tax

EXM-IN

Exempt Income

GST Free

Can't save settings

When setting up your account integration, most of the fields will default to "Select from one of the below". If any of these options have not been filled out, the settings menu will not let you save.

Be sure to fully complete your integration settings and you should be able to save.

Revenue vs Expense accounts

Revenue is money earned by your company as a result of conducting business. In Buildxact, we want to send customer invoices to this account type in your accounting package.

Expenses are the cost you incur in order to generate your revenue. In Buildxact, we want to send your orders to this account type in your accounting package.

Note: In order to check the account type in your accounting package, visit your chart of accounts for more information.

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