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  • Recording an ATO payment or credit (Australia only)

This information applies to MYOB AccountRight version 19. For later versions, see our help centre.


 

 

ANSWER ID:9260

Once you have completed your activity statement (BAS or IAS) you'll need to record the payment you owe the ATO or the refund they owe you.

Look at the back sheet of your completed activity statement to find the information needed for your transaction.

 

Recording a payment to the ATO

Enter your ATO payment using a Spend Money transaction with a separate line for each of your BAS fields (Banking command centre > Spend Money).

Use this table to work out what to enter in your transaction and whether the amount should be positive or negative.

BAS Field

Field Name

Description

Account number   example

In Spend Money the entry is +/-

1A

Goods and Services tax payable

This is the GST that you have collected.

2-XXXX

+ (Positive)

1B

Goods and services tax paid

This is the GST that you have paid.

2-XXXX

- (Negative)

1C

Wine Equalisation tax payable

This is the amount of Wine Equalisation tax that you will need to pay if applicable to you.

2-XXXX

+ (Positive)

1E

Luxury car tax payable

This is to record the Luxury car tax that you will need to pay if applicable to you.

2-XXXX

+ (Positive)

4

PAYG withholding payable

This is the total amount of PAYG that is withheld from employees and subcontractors. This field also includes amounts withheld for No ABN and also No Tax File Number.

2-XXXX

+ (Positive)

5A

PAYG Instalments

This is the prepayment of PAYG, which is based on total Income and the instalment rate that is set on your BAS/IAS form, or an instalment amount.

1-XXXX

+ (Positive)

6A

Fringe Benefits Tax Instalments

This is a prepayment of Fringe Benefits Tax based on a projection for the year.

2-XXXX

+ (Positive)

7

Deferred Company funds Instalments

This field relates to those who are liable to pay deferred instalments under the company or fund instalment system.

1-XXXX

+ (Positive)

N/A

Adjustments and Rounding Account

The BAS requires that whole dollars be reported, so some manual rounding of cents will be required. We suggest that you create an adjustments and rounding account to record the manual rounding of these adjustments.

Expense

or

Income Account

+ (Positive)

or

- (Negative)

 

Here is our example ATO payment.

A tax code of N-T is given to the allocation accounts in the example below, but you should always check with your accounting advisor or the ATO for the applicable tax codes to use in your circumstances.

Recording a refund from the ATO

Enter your ATO refund using a Receive Money transaction with a separate line for each of your BAS fields (Banking command centre > Receive Money).

Use this table to work out what to enter in your transaction and whether the amount should be positive or negative.

BAS Field

Field Name

Description

Account number   example

In Receive Money the entry is +/-

1A

Goods and Services tax payable

This is the GST that you have collected.

2-XXXX

- (Negative)

1B

Goods and services tax paid

This is the GST that you have paid.

2-XXXX

+ (Positive)

1C

Wine Equalisation tax payable

This is the amount of Wine Equalisation tax that you will need to pay if applicable to you.

2-XXXX

- (Negative)

1E

Luxury car tax payable

This is to record the Luxury car tax that you will need to pay if applicable to you.

2-XXXX

- (Negative)

4

PAYG withholding payable

This is the total amount of PAYG that is withheld from employees and subcontractors. This field also includes amounts withheld for No ABN and also No Tax File Number.

2-XXXX

- (Negative)

5A

PAYG Instalments

This is the prepayment of PAYG, which is based on total Income and the instalment rate that is set on your BAS/IAS form, or an instalment amount.

1-XXXX

- (Negative)

6A

Fringe Benefits Tax Instalments

This is a prepayment of Fringe Benefits Tax based on a projection for the year.

2-XXXX

- (Negative)

7

Deferred Company funds Instalments

This field relates to those who are liable to pay deferred instalments under the company or fund instalment system.

1-XXXX

- (Negative)

N/A

Adjustments and Rounding Account

The BAS requires that whole dollars be reported, so some manual rounding of cents will be required. We suggest that you create an adjustments and rounding account to record the manual rounding of these adjustments.

Expense

or

Income Account

+ (Positive)

or

- (Negative)


Here is our example ATO refund.

A tax code of N-T is given to the allocation accounts in the example below, but you should always check with your accounting advisor or the ATO for the applicable tax codes to use in your circumstances.