JOURNAL ENTRIES NOT SHOWING IN BAS REPORT
HI, Hoping for some help on the below query! A new vehicle was purchased and a HP taken out for it. My accountant gave me a journal entry for the set up of the Purchase, GST Paid and repayments of...
Forum Discussion
Hi Heather06
Thank you for your post. AccountRight requires a tax code to be added to each transactional line that is being generated. However, we have seen some cases where the tax codes are not been able to adding to transactions. This typically occurs when importing or coming through from an external party application.
Due to the transactions not having a tax code, these will not appear within BAS reports. To make those transactions appear adding a tax code to all transactional lines, could be FRE or N-T tax code, would be the way to go. If you are unsure what tax code you should be adding to those transactions we do recommend speaking to an accountant/advisor in relation to that.
Note: This is something that we are aware of and working on to prevent that situation from occurring with future updates to the program.
Cheers,
Shella_A
Hi Shella_A
So what happens to all of the incorrectly lodged BAS reports where the user was not as observant as Heather06 and didn't notice transactions were missing from the BAS.
Is any effort being made to alert users about this potential non compliance and GST understatement or overstatement? If it is a known issue, surely this is important enought to notify users.
Regards
Gavin
