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greygum's avatar
greygum
User
3 years ago
Solved

GST withheld

My company has sold a block of land and the solicitor withheld and forwarded the GST, please advise how to enter this transaction on the BAS as it still shows GST due, thank you

  • Tracey_H's avatar
    Tracey_H
    3 years ago

    HI greygum 

     

    Thanks for your post. In this situation I would recommend speaking to your accountant about how best to record this. As the funds haven't been withdrawn from your bank account you'll also need to check on the account to allocate that payment to. It will also depend on how you recorded the sale in your software.

     

    Once you know what you need to record I'll be happy to assist with how to do that in AccountRight.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    3 years ago

    HI greygum 

     

    Thanks for your post. In this situation I would recommend speaking to your accountant about how best to record this. As the funds haven't been withdrawn from your bank account you'll also need to check on the account to allocate that payment to. It will also depend on how you recorded the sale in your software.

     

    Once you know what you need to record I'll be happy to assist with how to do that in AccountRight.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.