BAS and EOFY

Experienced Cover User Expat
42 Posts
Experienced Cover User
Australia
Expat
Experienced Cover User

42Posts

2Kudos

3Solutions

BAS and EOFY

HI 

     Can someone please confirm the following , I use the BAS prep on my software . I have closed my 2016 Payroll year but cannot do the the prep for the 2017 /18 year ? is this because my Accountant has not yet closed my Financial Year . If not is there a way around this .

      Also will be doing Online direct ATO Portal lodgement shortly , do I still need to clear the payments manually under my Liabillities or will these be aoutomatically cleared when submitted via the Portal through MYOB    Thanks   Gary

1 REPLY
Super Partner GDay53
406 Posts
Super Partner
Australia
GDay53
Super Partner

406Posts

490Kudos

74Solutions

Re: BAS and EOFY

@Expat

 

Gary once you have closed your 2016 Payroll year you will be able process payrolls in the 2017 year.

In MYOB you can have two finacial years open at the one time but only one Payroll year.

It will depend on which Financial year was last rolled over, as to what you can currently work on.

If you have rolled over the 2016 year then you will have the 2017 and 2018 years open and should be able to produce BAS / IAS for both years.

Going online and doing the BAS / IAS lodgement online at present does not automatically clear your accounts. You still need to do a entry to do this. Either a Journal entry as I describe in my answer here http://community.myob.com/t5/AccountRight-Tax-and-Business/ATO-BAS-REFUNDS/td-p/481317, or a Spend / Receive Money.

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