Clearing down the GST Paid account?
Hi there I am operating on a cash basis I have a "GST Paid" and "GST collected" account(s) in MYOB Account Right. Both are detail accounts in the "GST Liabilities" header account. The Context: My accountant does not seem to clear or zero-out these accounts at the end of the year, nor when I pay my BAS. They just keep building and building and building every year - e.g. thousands and thousands of dollars have been accrued over time in the "GST Paid" and "GST Collected" accounts. I don't want to ask my accountant because asking her anything is gonna give me a major headache, and she'll take 2 weeks to respond etc. not worth the headache. The Question: Is there a legitimate reason why this is not cleared or zero-ed out after i finalise the BAS every quarter, or when i finalise my returns at the end of the year? Thank you Any ideas or pointers would be much appreciated.
EOFY Verification, Payroll Summary Matches - ATO have missing payruns and populated BAS differently
Hello When I went to December BAS to submit figures, the pre-populated figures did not match my Payroll Summary, My Payroll Register or my YTD Verification Report - which all agree. My first question is - where do the figures come from in the YTD Verification Report - the ATO or direct from MYOB? I have been told that provided my YTD Verification Report agrees with my Payroll reports - not to worry. This seems odd as the ATO appear to be expecting figures different to these and I have identified which payruns are not showing in the ATO portal. I have identified the 2 x single pay runs that do not show in my ATO portal - one a reversal and one the re-done pay for the same person in the same period. This accounts for the different in the PAYG and Gross between the BAS statements' suggested figures and mine. Are you able to walk me through how to resolve this and comment on the sentence in blue above? Much appreciated.Old entries not allowing account to reconcile
I'm trying to reconcile different account files but cannot due to old entries pre 2016 not being purged correctly and still in the system. Example 1: ATO PAYG (W2) Installments I have floater from 30/6/13 that is sitting as a deposit but has no withdrawals to match it to so is throwing the reconcile out. Obviously the other items were all purged but this wasn't Example 2: Undeposited Funds 2x receipts that have showed back up but were orginally cleared from 2019 Some accounts like Customer Deposits have calculated balances in them that don't match anything outstanding and i don't know how to find them. This is also not the only account that this is occuring with. Can somebody please give me some insight as to why this is happening and how to fix it.
