I'm doing the June BAS for a simple rent earning company.
The GST Detail Accrual report shows sales of $150,000
However the BAS shows sales of $115,00
The difference is the last rent invoice dated 14/6.
I have checked everything - this invoice is the same as one in April and May.
How can this be?
Thanks.
Yes, I am mortified to find that the BAS report was set to cash method instead of accrual method. Not sure how this happened as all my companies are accrual. This was the only thing I didn't check!!!
Hi KE4,
That's great to hear that you've pinpointed the issue with the BAS report. These things happen sometimes. If you need any more help or run into another hiccup, feel free to reach out.
Cheers,
Princess
Hi KE4,
I get that you're experiencing a discrepancy between the GST Detail Accrual report and the BAS. This could be due to a variety of reasons. One common error could be the accounting basis you're using. I would recommend double-checking the accounting method and the timing of the invoice. Also, you can check out this Help article: Prepare your activity statement online.
If you're still experiencing issues, you may need to visit help sites like myob.com/support or myaccount.myob.com to find MOCA, our virtual assistant. If MOCA can't help, you'll be automatically directed to our live chat team.
Cheers,
Princess
