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February
February
I need help understanding how the totals are calculated in the BAS reports. The MYOB online report is not matching the Accountright report.
This is what the MYOB online report is showing:
GST Report: Income 81,680.52
Sales: 35,742.51
Total: 45,938.01
Prior period adjustments: Net total (1,970.76)
Based on this, the total owing and payable should be $43,967.25, which matches my reports from AccountRight.
But instead, MYOB online is showing in the Gst Return Summary:
GST on Sales: $81,680
GST on Purchased $32,473
with total payable being $49,207
This is a difference of OVER $5k!!! Help, I have been using the MYOB Online Reporting but I don't feel confident now!
Please let me know if there are any issues with it or how I should proceed.
Thanks
E
February
February
Hi @EHAM,
Thanks for your post.
My apologies for the late response. I understand that you're having trouble reconciling the totals in your BAS reports between MYOB Online and AccountRight. We appreciate you reaching out. Let's try to clarify this. The GST report in AccountRight Desktop will look different from the browser version of the report if transactions contain both income and expenses, such as rental disbursements and recipient-created tax invoices. This is because the GST report in AccountRight is based on transaction type (for example, a bill or invoice), whereas we've improved the GST report in the browser to display transactions based on account type (income, expense, etc.).
If you record transactions that consist of both income and expenses, we recommend you use the GST report in the browser when preparing your activity statements. Whichever report you choose to use, we recommend using the same report for the entire financial year. Otherwise, it might become confusing.
You may check out this helpful article, Why the GST report in the browser is different from AccountRight desktop. It has a full, detailed explanation as well as an example computation that will give you an answer to the report differences.
Let me know if you need further assistance. We're happy to assist you further.
Otherwise, if my response has answered your inquiry, please click "Accept as Solution" to help other users find this.
Kind regards,
Shella
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