Important Reminder STI/RCTI November 2019

Department of Education

06 December 2019

Schools will have received a STI/RCTI statement dated November 2019. The department will post the transaction to GL 500030 on 17 December 2019 (2019/2020 financial year).

Schools are encouraged to process the required journals promptly after this posting to ensure the transactional data is up to date. These statements MUST NOT be processed prior to the direct debit occurring.

Please note: The Department has recently undertaken a review of its tax codes including transactions between the department and NSW Government Schools.

As a result of this many transactions that were previously appearing on your Sundry Tax with a GST component will now show as the amount exclusive of GST with no GST to be recognised.

As the Department has paid the original invoice from the vendor, the GST has been accounted for by the Department and the recovery of the cost from the school will be the GST exclusive amount only.

No changes are required for previous transactions. Schools should journal according to the GST shown on each statement. Where there is a reference to S5 in the details shown against the transaction schools should use P5 as the tax code on their journal.

If you have created Sundry Tax Invoice journal templates please ensure the correct tax code is amended and is applied.

PLEASE NOTE: It is recognised that schools may have processed Sundry Tax Invoices issued in 2018 during the 2019 calendar year. In these cases, the clearing account will not report a NIL balance. Do not make any adjustments in this instance. In addition, schools are not required to clear STI/RCTI transactions from prior years.

The following link is provided for information on processing transactions (GL 500030) Process a Sundry Tax Invoice / RCTI Statement Journal QRG

If you require any assistance please log an incident with EDConnect, contact number 1300 32 32 32.

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