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GST Cash Basis for BAS

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Experienced User Leslie22
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GST Cash Basis for BAS



We are in the process of preparing our BAS return. The prior incumbent in my role printed the GST Summary Report and used those figures to prepare the return (using the ATO Website). BAS is not set up in our system! No further checks were undertaken.


Our figures this quarter are a lot higher than last quarter when we received a refund. I am thinking this may be due to an extreme amount of sales and purchases but


Using the Clearwater Sample File :


  1. I thought if I took the Balance Sheet figure for 30/09/15
  2. Subtracted the Open Receivables with Tax for 30/09/15
  3. That would agree to the GST Collected figures on the GST Summary - Cash report

However it does not - Not sure what I am doing wrong!


Thanks as always




Super Cover User bungy15
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Re: GST Cash Basis for BAS

Hi @Leslie22


I'm not sure if your saying the Clearwater file isn't balancing (it does for me) or your file isn't.  You are correct in that to balance GST collected it is

Balance Sheet - GST collected

less Receivables with tax

equals GST summary cash - GST collected


I always reconcile GST collected and GST paid through Banking<Reconcile Accounts.  First I print off the above reports and the Payables with Tax. Then in reconcile accounts I change the Closing Statement Balance to zero, enter the date, tick all transactions.  Then using the Receivables with Tax report I untick the unpaid invoices. Once done your Out of Balance amount should be the total GST collected on your GST summary report and Balance Sheet (minus receivables).   You won't balance if customers have made part payments, so that may be your problem.  If I have part payments I do a "temporary' GJ  to the GST Clearing account to include the GST portion paid. 

When doing the next quarters BAS you need to reenter that GJ, just the opposite way around.  So if the sale is now paid in full you will have the original invoice with total GST as a withdrawal and the new GJ with the previously paid portion as a deposit, tick both and you will have the GST amount outstanding.


Once I have paid the BAS and entered the payment  I go back into Reconcile Accounts, Closing Statement Balance to zero,  enter the date as the date BAS was paid.  Tick the BAS payment and the Out of Balance should now be zero, if it is I click reconcile.  So you start fresh every quarter!


Hope this makes sense Smiley Happy



Ultimate Partner DuncanS
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Re: GST Cash Basis for BAS

@Leslie22 @bungy15




As you mention, it is essential to reconcile the GST Reports to the GST Accounts to the Balance Sheet.


It is fair to say there are some (or is it many) Business Owners/Bookkeepers/BAS Agents/Tax Agents who might not.


At year end, I have a ledger BAS April - June 20xx.

If on a Non-cash basis, the GST Collected and GST Paid Accounts are nil.

If on a Cash basis, the GST Collected and GST Paid Accounts should be 1/11 of GST in Receivables and Payables. 


It would be preferable, in my view, if accounting standards required the above to occur.

A BAS or Tax Agent is bound by the Code of Professional Conduct under TASA 2009 and the requirement to act with competence and determine an entity's State of Affairs.


Hope this helps.



Duncan Smith
Business Advice + Tax
Helping business owners build a better business since 1998
E T 02 9904 3672 7 days
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