We create and send some sales invoices that are specific to our database software and not through MYOB Account Right. These invoices have GST component. When we receipt the money we receipt it through MYOB. What other transaction do we need to do to be BAS compliant as in showing GST paid vs GST collected.
To be BAS compliant, you’ll need to ensure that the GST paid and GST collected are properly accounted for.
Hi wardt,
To make sure you're compliant with BAS, you need to record all transactions that include GST components. Even if you create sales invoices outside of MYOB AccountRight, you would manually enter these invoices into MYOB. It's important to set up and use the correct tax codes in your transactions to ensure GST is calculated and reported accurately. For specific guidance, it would be best to reach out to your accountant.
Cheers,
Princess
