Wrong entry for GST paid and GST collected

This thread is now closed to new comments.
Some of the links and information provided in this thread may no longer be available or relevant.
If you have a question please start a new post.
Highlighted
Jord
3 Posts
Cover User
Australia
Cover User

3Posts

0Kudos

0Solutions

Wrong entry for GST paid and GST collected

I recorded an electronic payment for BAS spend money in the current FY byt entered the amounts for GST collected and GST paid the wrong way around. As it is an electronic payment, it wont allow me to correct the accounts the two amounts are entered.

 

Can someone help me with a journal entry to correct this month. For example

 

GST collected -$1,392

GST paid $4,982

Amount spend = $3590

 

This should have been recorded as:

 

GST collected $4,982

GST paid $1,392

Amount spend = $3590

 

Thank you

 

 

1 REPLY 1
Ultimate Partner ronatbas
4,539 Posts
Ultimate Partner
Australia
Ultimate Partner

4,539Posts

3,288Kudos

718Solutions

Re: Wrong entry for GST paid and GST collected

@Jord

 

Rather than fixing a  mistake undo the payment by going to the electronic clearing account register and and remove the payment. Reset your spend money then create your ABA file and ssave it to the desktop so you can put it in the trash later.

Ron B
BAS Group
03 95588477

info@basgroup.com.au
Making MYOB work for you

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post