General Ledger GST adjustment
I am preparing a year end adjusting journal to remove personal expenses from the Business Profit and Loss account and so need to adjust the GST - these items mostly have had a GST component. How does Wave handle this as other accounting systems allow for a one sided GST entry to be made which is then balanced off against the GST balance sheet account. Please advise on the transaction that I would need to input. Currently I have a general journal established with the net figures.
Look forward to a speedy response.