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Add GST to a Budget

Objective

To add Goods & Services Tax (GST) as a budget line item and to make it visible in a custom PDF. 

Background

A Goods & Services Tax (GST) is a tax on goods, services, and other items sold or consumed in Australia and New Zealand. At this time, Procore does not automatically include a Goods and Services Tax (GST) at the Company level or in the Project level Budget tool, so the steps below can be used to incorporate GST into Procore. By working with your Procore point of contact you can include GST as a budget line item and also make GST visible in a custom PDF. 

Things to Consider

  • Required User Permission:
    • 'Admin' level permission on the project's Budget tool.
      AND
    • 'Admin' level permission on the project's Prime Contract tool.
  • Additional Information:
    • GST will be displayed on custom PDFs for the Tax Invoices (Claim Schedules), but will not be displayed in Procore. 
    • Vertical markup will display the markup below the budget line items

Tasks

Create a GST Cost Code and Budget Line Item

  1. Create a cost code in your company's Admin tool for dedicated use for GST. See Create a Company Cost Code
  2. Create a budget line item for the GST cost code and assign it to the 'Other' category. See Create a Budget Line Item.
    Note: You can alternatively create a custom category named 'Tax' or 'GST'. 
  3.  for the GST cost code with a Category of "Other," unless you want to have a custom Category created for "Tax" or "GST." 
  4. Copy the Budget to the Head Contract. Confirm that your line item for GST is visible. (Note: By adding a GST line item to your budget, the variance of what was paid from the client and what was paid to the subcontractors will be displayed, which is useful for generating reports for the government.)

Create a Project-level GST Financial Markup for Head Contracts and Commitments 

  1. Navigate to the project's Head Contract tool. 
  2. Click the Advanced Settings tab.
    Note: If your browser window is minimized, you might need to click More and choose Advanced Settings from the drop-down menu.
  3. Click Edit in the right-hand side of the screen. 
  4. Under Financial Markup Settings, place a checkmark in the Enable Financial Markups box.


     
  5. Click Save.
  6. Click Financial Markup tab.
    Note: If your browser window is minimized, you might need to click More and choose Advanced Settings from the drop-down menu.
  7. Click New Vertical Markup
  8. Enter the following information in the New Vertical Markup:

    • Markup Name - Enter a name for the financial markup (e.g., GST).
    • Markup Percentage - Enter the percentage for the markup (e.g., 10).
    • Compounds Markup Above - If the box is selected, markup percentage is calculated on the subtotal with the addition of any preceding markups. If this box is not selected, markup percentage is calculated on the change order subtotal.
  9. Select the Categories to which the Vertical Markup will apply. By default the markup applies to all categories. Confirm the Financial Markup is applied to all Contracts and Variations. 
  10. Select the GST Cost Code that you created from the drop-down menu where this Financial Markup will map. 
  11. Select the Category that the GST financial markup will map to ("Other" or custom Type, if created).
  12. Click Save
    Note: The project's Pay Apps (Claim Schedules) and Progress Claims (Tax Invoices) will also now include a GST line on the G703 form.

Important!When a Commitment is created, make sure that a line item for GST is added for each subcontract or purchase with applicable tax. 

Include GST on PDFs for Contracts, Variations and Claim Schedules 

If you want to include GST on a customized PDF, to ensures its prominently displayed in Contracts, Variations, and Claim Schedules, your company's Procore Administrator can submit a request to your Procore point of contact. See Request a Custom Form. Your Procore point of contact will work with you to schedule a call with the Custom Forms team at Procore to discuss your customization needs. 

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