Forum Discussion

user113's avatar
user113
Contributing User
3 months ago
Solved

GST paid and received

I have just moved to MYOB Business light, and have a single GST account, whereas I had GST collected, and GST paid in my previous accounting software with a header account I paid out of. Why did the ...
  • DuncanS's avatar
    DuncanS
    1 month ago

    user113​ Doreen_P​ 

     

    The GST Return Report shows GST Collected and GST Paid.

     

    These GST Collected and GST Paid figures on the GST Return Report would then be reviewed for correctness.

    Checks include Reconciliation to P&L/Capital Purchases.

    My GST Checklist has been shared on the MYOB Community in past years and is available on request.

     

    The net GST on the Balance Sheet is reconciled to the GST Return Report (should be the same if Non-Cash GST Reporting).

     

    I still prefer GST Collected and GST Paid on the Balance Sheet.

     

    Duncan

     

     

Doreen_P's avatar
Doreen_P
MYOB Moderator
3 months ago

Hey user113,

 

The MYOB Business version keeps things simple so the net GST on your BAS always matches what shows in your ledger, which is why the conversion didn’t rebuild your previous structure. You can also check out the FAQs from this link for more info.

 

Cheers,

Doreen

  • user113's avatar
    user113
    Contributing User
    3 months ago

    Thank you. I will leave it as is, and trust it will separate it into the correct places for the BAS.

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