Thank you for visiting our Partner Zone. This area is an exclusive space for MYOB Partners. Find out how to Partner with MYOB.
2 weeks ago - last edited 2 weeks ago
Our auditor discovered that one of our suppliers is not registered for GST, however I've been claiming GST on their invoices unknowingly. Could you advise how I should adjust the BAS to account for wrongly-claimed GST?
Your use of the term auditor implies that you are a Not For Profit organization. Many NFP's have a financial year end of Dec. So my first question is which financial year was being audited as this will affect the affect the treatment in MYOB and how it is reported to the ATO. The second question is how do the auditors want it to be treated? Are you to go back to the previous year and change each bill from GST to GNR, or journal the change from GST to Expense?
To me it is a straight forward issue of revise file and then revise June quarter BAS, which will result in you having to pay more GST.
I was at a ATO Small Business Seminar last Thursday and we talked about the importance of using ABN Lookup.
Over some 20 years of bookkeeping, I often sit at a clients and look at the supplier Tax Invoices/Invoices as I input into MYOB.
A non GST-registered entity issues a Invoice not a Tax Invoice.
I agree with Ron that you should be seeking guidance from the auditor and the best solution is likely to be to amend the April - June 2017 BAS.