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I have chosen GST Invoice (accural in our set up) but when I run my GST report it always defaults to CASH. How do I fix this? I want it to default to Accrual,otherwise I risk running an incorrect report, I'm worried if I foget to manually change it then our GST is incorrectly calculated.
Solved! Go to Solution.
At moment there isn't an option to default that yet in Essentials as there are no custom reports, this is worth posting on the ideas exchange.
Most Essentials Accounting users operate with a cash basis system for GST so this will just need to be changed manually sorry.
I have never used MYOB BASLink to lodge a BAS.
Some clients have the Business Portal otherwise I use the Tax Agent Portal to lodge.
I understand that the Business Owner gets another 2 weeks to lodge ie 8 weeks if lodged electronically by a BAS or Tax Agent.
Maybe Samuel can explain to me the ATO extensions if MYOB BASLink is used to lodge a BAS.
You prefer the Non-Cash method and so do I - have attached my GST Checklist.
May business be good.
BASLink is only available in AccountRight and is basically a replica of the calculation worksheet and BAS statement provided by the ATO.
It allows you to link in the GST codes relevant to each field and then the client would use this data to lodge online or manually lodge. BASLink does not allow upload to the portal.
BAS lodgement through MYOB AccountRight/Essentials inbuilt is coming but now yet here.
I understand that you are a MYOB Expert.
Could you please help with what Checks and Balances MYOB have built into the GST or Payroll calculations where the software calculates the figures for a BAS or IAS.
My posts on the Community would always suggest that any GST or Payroll Reports used to prepare a BAS or IAS would be checked to the GST accounts on the Balance Sheet.
You will see from my Checklist that my Checks and Balances are robust.
The Checklist could be updated for Backup procedures where the file is held solely in the Cloud.
All the Best.