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waymark's avatar
waymark
Contributing User
18 days ago
Solved

Correct allocation of BAS payment when GST refund offsets PAYG

I’m hoping someone can explain the correct way to record a BAS payment in MYOB Business when GST is in a refund position and offsets PAYG.   For example, suppose my BAS is: GST on sales (1A):...
  • waymark's avatar
    waymark
    17 days ago

    ok yeah it appears to reconcile on the bank transaction but it doesn't end up on the right side of the credits/debits in the GST / PAYG accounts which is annoying so I think a ledger entry to correct it is required which is stupid.

AndrewGFisher's avatar
AndrewGFisher
Experienced Cover User
18 days ago

Do you have a GL account GST balance? You should also have an account PAYG payable.  This is not a spend money transaction its an allocation of a transaction. GST to gst balance payg to payg payable. 

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