BAS Statement (Cash Basis) - not showing payments as GST Collected

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Partner kmgpl
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BAS Statement (Cash Basis) - not showing payments as GST Collected

Hi,

I am currently setting up a client to use the Square POS with Myob Essential and using the Amaka integration link.

 

All sales are coming through sucessfully from Square, however when I run a GST detail report (cash basis); the sales are not showing up to be counted in the GST Collected amount.

 

The integration provides a summary invoice but has a zero balance owing as the payments are included in the invoices as negative amounts and are allocated to a clearing account or undeposited funds. 

ie  Sales GST                    100.00  GST (sales account)

     Fees  GST                   -   2.20  GST  (expense account)

     Credit Card Payment  -97.80  NTR  (clearing account)

 

When the actually funds hit the bank account they are allocated to the clearing account as NTR.

 

However, if we have a direct deposit sale which comes into the main cheque account, then it will be picked up in the gst report.

 

All report of accounts looks correct and if I run the GST report on an accrual basis, I get the information needed.

 

Can anyone shed some light on where the problem is and how to fix it.

 

Thank you.

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Ultimate Partner PaulBihet
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Re: BAS Statement (Cash Basis) - not showing payments as GST Collected

Technically it is recording the gst correctly is you are on a cash basis.

If You are raising an invoice for zero dollars your receipt from a cash perspective is zero 

If this was a journal entry (which is what most software push into Myob) it would appear on your cash gst report  correctly.

Your easiest fix might be to change the client to accrual based gst. This tends to be the better option for retailers from a cash flow perspective 

Please mark as a solution if you find this has assisted you with your enquiry
Paul Bihet MYOB Certified Consultant
(Bookkeeper Support & Training)
MYOB Sales, Installation & Support
B.A.S. Service Provider
Phone (08) 7131 1116
Mobile 0413 313 403
Fax (08) 7200 7715
Email: paul@mysupportman.com.au
Partner kmgpl
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Re: BAS Statement (Cash Basis) - not showing payments as GST Collected

Hi Paul,

 

Thank you for your reply and help.  The sales integration comes through as an invoice.

 

I made the decision to create a second clearing account (NTR) to record the sales as opposed to changing the GST reporting basis for the client.

 

At the end of each month, I am now doing a journal to clear the sales clearing account to the sales account which has GST on it.  This works perfectly and saves on a lot of keystrokes.

 

Thanks again.

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