Dear All,
I have recorded a reimbursed payment of $25.95 for an employee's flu shot in May. However, I mistakenly included GST of $2.36, even though this payment should not have GST applied. Fortunately, since we do quarterly BAS reporting, we have not yet paid this amount.
Could you please advise me on how to adjust the GST portion correctly?
Thank you very much in advance.
Hi Ianinfinance,
Totally gets tricky sometimes, but this is definitely fixable. Lucky for you, since you haven’t lodged your BAS yet, you’ve got time to sort it out before it creates any fuss. Fixing it usually comes down to the original transaction. You can either change or delete the transaction and re-enter it. Both options work, but it’s always a good idea to check in with your accounting advisor to figure out the best approach.
Cheers,
Princess
Princess_R Thank you very much for your reply.
Unfortunately, I’m unable to change or delete the transaction, as it is linked to other payments.
Therefore, I was wondering whether it would be possible to make the adjustment using the General Journal, and if so, could you kindly advise me on how to proceed?
