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This information applies to MYOB AccountRight version 19. For later versions, see our help centre.
https://help.myob.com/wiki/x/9Aqc
ANSWER ID:9260
Once you have completed your Business Activity Statement (BAS) or Instalment Activity Statements (IAS) you need to record the payment owing to the Australian Taxation Office (ATO) or the credit you will receive from the ATO. This support note provides guidelines on recording this transaction.
Using MYOB Essentials Accounting? See our support note .
What information do I need to enter my ATO payment or credit?
You will need to have a print out or access to your BAS/IAS. From this you will need to look at the back sheet. This will give you the information needed to enter your transaction.
The table below provides a brief description of the BAS fields and how an ATO payment is entered, in other words positive or negative, through the Banking command centre using Spend Money. For FirstEdge or Business Basics users, go to the Command Centres menu and choose Banking then choose Spend Money.
|
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. |
2-1210 |
+ (Positive) |
|
1B |
Goods and services tax paid |
This is the GST that you have paid. |
2-1220 |
- (Negative) |
|
1C |
Wine Equalisation tax payable |
This is the amount of Wine Equalisation tax that you will need to pay if applicable to you. |
2-1370 |
+ (Positive) |
|
1E |
Luxury car tax payable |
This is to record the Luxury car tax that you will need to pay if applicable to you. |
2-1360 |
+ (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. |
2-1370 |
+ (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. |
1-1980 |
+ (Positive) |
|
6A |
Fringe Benefits Tax Instalments |
This is a prepayment of Fringe Benefits Tax based on a projection for the year. |
1-1340 |
+ (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. |
1-1990 |
+ (Positive) |
|
N/A |