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Add GST to a Budget

Objective

To add GST as a line item as a budget or make GST visible in a custom PDF. 

Background

At this time, Procore does not automatically include a Goods and Services Tax (GST) in company- or project-level budgets. The steps below are intended as a temporary work-around for incorporating GST into Procore. By working with your Procore point of contact you will be able to include GST as a line item on a budget and make GST visible in a custom PDF. 

Things to Consider

  • Required User Permission: 'Admin' on the project's Budget tool.
  • 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

Steps

Create a GST Cost Code and Budget Line Item

  1. Create a Company Cost Code specifically for GST. 
  2. Create a Budget Line Item for the GST cost code with a Category of "Other," unless you want to have a custom Category created for "Tax" or "GST." 
  3. 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 tab. 
  2. Click the Advanced Settings tab. (Note: The Advanced Settings tab may be hidden but accessible by clicking the More tab)
  3. Click Edit in the right-hand side of the screen. 
  4. Under the "Financial Markup Settings" section, mark the Enable Financial Markups checkbox.
  5. Click Save.
  6. Navigate to the Financial Markup tab to set up the default financial markups that will be applied. (Note: The Financial Markup tab may be hidden but accessible by clicking the More tab.)
  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 Draw Requests (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 

1. Request a Custom Form for a PDF Customization to have GST prominently displayed on the PDFs for Contracts, Variations, and Claim Schedules.

Important!Clients should schedule a call with Custom Forms to discuss their custom PDF in detail. Contact your Procore point of contact for more information. 

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Last modified
09:43, 12 Aug 2016

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