Forum Discussion

JPS_Perth's avatar
JPS_Perth
Contributing Cover User
9 days ago

IAS online miscalculating

So part way through the month one of our staff decided he wanted to salary sacrifice to his super.  This was something we were already doing for another employee so was fairly simple to set up.  Had ...
Genreve_S's avatar
Genreve_S
MYOB Moderator
7 days ago

Hi JPS_Perth,

 

Making sure that the values in the IAS is crucial to a business process. To determine how MYOB calculates the W1 figures, you should use the "GST Return Report." This report provides the necessary details and calculations that contribute to the W1 label, which represents the total salary, wages, and other payments.

 

Here are the steps to access the relevant report:

  1. Go to Reporting in MYOB.
  2. Select Reports.
  3. Choose the GST Return Report.

This report will show the workings for the final figures, including the W1 label. If there are any discrepancies or adjustments needed, you can manually update the figures based on this report.

 

Additionally, if you are using MYOB Practice, you can import the figures directly from the ledger, which will pull the rounded figures from the GST Return Report in the client’s file. This ensures that the W1 figures are accurately reflected in your BAS (Business Activity Statement).

 

Thanks,

Genreve