BAS REFUNDS/PAYMENTS

Highlighted
Contributing User
9 Posts
Contributing User
Contributing User

9Posts

4Kudos

0Solutions

Solved: Go to Solution

BAS REFUNDS/PAYMENTS

Ok forgive me in advanced if this has been answered 1000000000 times.... I may need this to be broken down into steps Smiley Happy

 

From the very begining, how do i account/record my BAS. Refund or payable.

 

Do i need to create a Card file named ATO?????

 

I understand a refund should be recorded through the Receive Money Window, but what account would i use? 

Same as a payable Bas whouch be recorded through the Spend Money Window. I get this step but its the steps in between im unsure of.

 

 

1 REPLY 1
MYOB Moderator
3,517 Posts
MYOB Moderator
MYOB Moderator

3,517Posts

558Kudos

531Solutions

Accepted Solution Solved

Re: BAS REFUNDS/PAYMENTS

Hi @uplift1 

 

Thanks for your post. You are correct that a BAS payment is recorded in Spend Money and a BAS refund is recorded in Receive Money. When it comes to the accounts to allocate the payment/refund to, you would use the applicable liability accounts.

 

This help article explains in detail how to record these transactions: Recording your ATO payments or credits. A personal tip from me is that it's also a good idea to reconcile those liability accounts back to zero after paying your BAS.

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

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