Capital acquision on balance sheet for BAS

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Contributing Cover User Claire_F
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Claire_F
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Capital acquision on balance sheet for BAS

Hi, I am doing my BAS and during the last 3 months we have purchase a couple of computers which I received an invoice for and put them against equipment (asset) and gave a CAP code. Now when I run my balance sheet and look for GST paid these do not show up. When I enter GST on my BAS should I add the GST for capital acquisitions onto the amount on the balance sheet or just enter the amount that is showing on balance sheet. 

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Ultimate Partner ronatbas
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ronatbas
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Re: Capital acquision on balance sheet for BAS

@Claire_F

 

Try calling up the GST Summary report and you will see that under Tax Paid the CAP figure will be recognised. If this is not showing as part of your BASLink report then  you need to look at the setup of that report.

Ron B
BAS Group
03 95588477

info@basgroup.com.au
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