Forum Discussion

Experienced User

4 years ago

BAS Refund ATO

Hi I have lodged BAS for Jan-March 21 (GST Collected $553, GST Paid $ 204) for my business and paid $349 to ATO. But the actual amount was as below: GST Collected $553 GST paid $221, then I lo...

Tracey_H
4 years ago
Hi Ravinder

Thanks for that screenshot. My apologies, the easiest way to handle this particular situation is to allocate the $17 straight to the GST Paid account without the other amounts and accounts. Then check the GST Paid account to make sure it reconciles.

Please let me know if you need further help.

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

Tracey_H

Former Staff

4 years ago

HI Ravinder

Thanks for your post. You'll need to record the payment as a Spend money transaction with the amount paid as $349. Allocate the GST Collected amount ($553) as a positive to the GST Collected account and the GST Paid amount ($204) as a negative to the GST account.

Then record the refund as a Receive Money transaction for the amount of $17. Use the revised BAS to allocate the amounts to the applicable GST accounts. The amount at 1A is allocated to the GST Collected account and the 1B amount is allocated to GST Paid. When recording a refund you would enter the GST Collected amount as a negative and the GST Paid amount as a positive.

Please let me know if you need further help.

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

Ravinder
Experienced User
4 years ago
Hi Tracy

Thanks for your reply.
I have entered the details as you advised, but getting an error (snipshot attached) and unable to record the transaction. Please help to fix this error.

Kind Regards
Ravinder Kaur
- Tracey_H
  Former Staff
  4 years ago
  Hi Ravinder
  
  It doesn't look like you've uploaded a screenshot, can you please try again or tell me what the error is so that I can help with this.
  
  To send a screenshot use the Microsoft snipping tool to create the screenshot then when posting on the forum click on Photos to upload that screenshot. Please make sure you remove sensitive information from screenshots prior to posting on the forum.
  - Ravinder
    Experienced User
    4 years ago
    Hi Tracy,
    Please find attached screenshot.
    
    Thanks
    Ravinder