Forum Discussion

yoshu's avatar
yoshu
Trusted User
6 years ago
Solved

Bas amendment entry

Hi,

 

We did an amendment on lodged and paid BAS for July qtr. I have paid the amended amount to the ATO recently. How do I enter this in MYOB? Can I do a simple spend money entry (from ..account to ATo... $ amended amount....record done) or do i need to do a more elaborate one with Tax collected, paid, W2 etc. If so the balance is not going to tally. Can you please suggest me the right way .

 

Thanks 

  • Steven_M's avatar
    Steven_M
    6 years ago

    Hi yoshu 

     

    I would recommend speaking to your accountant in regards to the best way to record that transaction including the accounts, amounts and tax codes involved in that transaction.

     

    Generally speaking, you would look at recording a Spend Money transaction with the bank account being the Pay from Account. The allocation account would be either be the holding account (used as the residual amount from the previous period) or the GST linked account that was incorrectly allocated in the previous transaction i.e. GST paid.

5 Replies

Sort By
Replies have been turned off for this discussion
    • yoshu's avatar
      yoshu
      Trusted User
      6 years ago

      Thank you for the attachment. But it doesnt solve my problem unfortunately.

       

      I have already lodged that BAS (July-Sept qtr) as shown in the attachment. My query is how do i enter the amended amount that i have paid ATO recently. For example I paid $10,000 Bas in Oct(for July Qtr) and closed off, But I should have paid $12,000.

      So now I need to pay the amended $2000 to ATO. and Ive paid it in March. Now how do I record this in MYOB.

       

      If I do the initial method with 1A-1B+W2 then the total will be out. 

       

      Cheers

      • Steven_M's avatar
        Steven_M
        Former Staff
        6 years ago

        Hi yoshu 

         

        I would recommend speaking to your accountant in regards to the best way to record that transaction including the accounts, amounts and tax codes involved in that transaction.

         

        Generally speaking, you would look at recording a Spend Money transaction with the bank account being the Pay from Account. The allocation account would be either be the holding account (used as the residual amount from the previous period) or the GST linked account that was incorrectly allocated in the previous transaction i.e. GST paid.