There are a number of reports you can access to help you reconcile amounts appearing on your BAS with transaction amounts entered in the period.
To display and print reports
- In any command centre, go to the Reports menu and choose Index to Reports. The Index to Reports window appears.
- Select the report you want to display or print and click Display. The Report Display window appears.
- Click Customise. The Report Customisation window appears.
- Select a date range for the report and, if you want, refine the appearance of the report.
- Click Display or Print.
Reconciling GST amounts
To reconcile the Goods and Services Tax section of the BAS, you should check that:
- the GST Collected and GST Paid amounts on your BAS match the corresponding amounts in the GST Summary report
- the GST Collected and GST Paid amounts on your BAS match the GST Collected and GST Paid linked accounts (if you report GST on an accrual basis)
- the GST Collected and GST Paid linked accounts reconcile.
To check your BAS GST amounts match those in the GST Summary report
- Print the GST Summary report. This report is available in the GST/Sales Tax tab of the Index to Reports window.
- Select GST (Summary - Accrual) if reporting on an accrual basis, or GST (Summary - Cash) if you are reporting on a cash basis.
- Check that the GST Collected (G9) and GST Paid (G20) figures on your BAS match the Tax Collected and Tax Paid figures on the GST Summary Report. You may also need to check the individual amounts reported for each tax code at each G field.
If the figures in the GST Summary Report don't match the BAS
- Check that the report filters for the GST Summary report are the same as those set for the BAS. For example, check that BASlink and the GST Summary report have the same date range and the same reporting basis (cash or accrual). Note: Ensure you have the correct financial year selected in the BASlink filters. For example, if you have your financial year setup from July 2010 to June 2011, when you create your quarterly BAS for July - September 2010 you need to select FY 11, as you are reporting for a period in the 2011 financial year.
- Check the BASlink setup. See the 'Check your BAS information' section.
Check if tax amounts have been manually changed in transactions
A difference between the BAS figures and GST reports can occur if any tax amounts have been changed manually on transactions recorded during the period.
To check if any tax amounts have been manually changed, run the Tax Amount Variance report. Note that you will need to run the report twice, once for Sales/Receipts Variances and once for Disbursements Variances.
To correct tax variances
If a transaction appears on the Tax Amount Variance report, you need to open the transaction and, if necessary, change the tax value to its correct value.
- Click the transaction on the report to open the original transaction.
- Click the Tax zoom arrow. The Tax Information window appears.
- Click Recalculate and OK.