Forum Discussion

SteveB0000's avatar
SteveB0000
Contributing User
27 days ago

BAS and Cash Accounting

I use cash accounting and in Accountedge I used to issue orders and convert them to invoices on the date payment was received, editing the issue date to match payment date. When preparing my BAS, the...
  • Earl_HD's avatar
    Earl_HD
    27 days ago

    Hi SteveB0000,

    In MYOB Business Lite, if you select Cash as the accounting method, BASLink will ignore unpaid invoices when preparing your BAS. This means you do not need to edit the issue date of the invoices to be later than the end of the quarter. The cash accounting method ensures that only payments actually received are considered for BAS reporting, aligning with your previous practice in AccountEdge.

    I hope this helps!

    Regards,
    Earl

Earl_HD's avatar
Earl_HD
MYOB Moderator
27 days ago

Hi SteveB0000,

In MYOB Business Lite, if you select Cash as the accounting method, BASLink will ignore unpaid invoices when preparing your BAS. This means you do not need to edit the issue date of the invoices to be later than the end of the quarter. The cash accounting method ensures that only payments actually received are considered for BAS reporting, aligning with your previous practice in AccountEdge.

I hope this helps!

Regards,
Earl

  • SteveB0000's avatar
    SteveB0000
    Contributing User
    26 days ago

    It does indeed help. Thanks!

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