Forum Discussion

Basketball's avatar
Basketball
Experienced Cover User
19 days ago

Mid year change from Qtrly BAS to Monthly BAS

Hi there, 

We are still operating in MYOB accounting year 2024, waiting on 2024 results to be finalised.

We enter our current FY (2025) transactions into MYOB AccountRight Desktop version.

We have lodged Dec2024 BAS at end of January

We have  just been advised by Accountant that they have advised ATO that we are moving to monthly BAS as of 1/1/25.

 

I wish to update this info in the BAS information screen under Company Information, so it will update the Prepare BAS screen when I go to prepare the January2025 BAS.

 

My query is:

  • is there potentially any impact on the GST reports, etc for any dates pre 1/1/25, by changing the GST reporting frequency from Quarterly to Monthly or just continue to be really strict with lock period and no transactions are to be changed (that would impact GST tax codes) prior to 1/1/25.
  • after anyone's experience with making this change mid way during the year please

Thanks

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator

    Hey Basketball,

     

    For your first query about the impact of switching from quarterly to monthly GST reporting, it's a good idea to have a chat with your accountant. They'll be able to give you tailored advice based on your specific situation. Otherwise, you're welcome to keep an eye on the Community Forum to see if other users share their experience.

     

    Cheers,

    Doreen