JOURNAL ENTRIES NOT SHOWING IN BAS REPORT

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Heather06
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JOURNAL ENTRIES NOT SHOWING IN BAS REPORT

HI,

Hoping for some help on the below query!

A new vehicle was purchased and a HP taken out for it.  My accountant gave me a journal entry for the set up of the Purchase, GST Paid and repayments of the HP however the GST amount (allocated against the GST Paid account number) or the Purchase amount (allocated against an expense account) is not showing up the BAS report.  I have entered N-T against each account code but not showing up under the N-T code of the report section.  Is there any reason for this?  Do I have to add these amounts manually to the BAS statement when I submit to ATO?

Thanks

Heather

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Shella_A
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Re: JOURNAL ENTRIES NOT SHOWING IN BAS REPORT

Hi @Heather06 

 

Thank you for your post. AccountRight requires a tax code to be added to each transactional line that is being generated. However, we have seen some cases where the tax codes are not been able to adding to transactions. This typically occurs when importing or coming through from an external party application.

 

Due to the transactions not having a tax code, these will not appear within BAS reports. To make those transactions appear adding a tax code to all transactional lines, could be FRE or N-T tax code, would be the way to go. If you are unsure what tax code you should be adding to those transactions we do recommend speaking to an accountant/advisor in relation to that.

 

Note: This is something that we are aware of and working on to prevent that situation from occurring with future updates to the program.

 

 

Cheers,

Shella_A

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gavin12345
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Re: JOURNAL ENTRIES NOT SHOWING IN BAS REPORT

Hi @Shella_A 

 

So what happens to all of the incorrectly lodged BAS reports where the user was not as observant as @Heather06 and didn't notice transactions were missing from the BAS. 

 

Is any effort being made to alert users about this potential non compliance and GST understatement or overstatement? If it is a known issue, surely this is important enought to notify users.

 

Regards

Gavin

(gavinw222@gmail.com)
Heather06
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Re: JOURNAL ENTRIES NOT SHOWING IN BAS REPORT

Hi @Shella_A ,

Thanks for your response however in my query I have stated that I used tax code N-T against the transactions but not showing up under the N-T code on the GST report?  My accountant has asked the question as to why not included in the GST report as should be?  

 

Thanks

Heather

Sean_DC
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Re: JOURNAL ENTRIES NOT SHOWING IN BAS REPORT

Hi @Heather06 

 

I'm sorry to see that no one has responded to you yet. N-T (Not reportable) is a tax code for transactions that don’t need to be reported at all on your BAS. For this reason, transactional lines marked with that tax code will not appear in the GST-based reports. The exception to that is if is a reportable line on the transaction (i.e. GST), then you will report the N-T portion.

This Help Article on Simpler BAS reporting will give you additional information that you can use as a guide.

 

Please feel free to post again. I'm happy to assist further.

 

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

 

Cheers,
Sean
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