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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/qQqc
ANSWER ID:5969
This support note covers some commonly asked questions in relation to the BASlink function of your software.
Click on a question to view its answer.
How do I deal with situations whereby the GST is less than 10% of the transaction value?
Do tax codes set up with a zero percentage need to be reported on the BAS?
How do I record both income and expenses in the one transaction so that GST is reported correctly?
How can I see the amount of GST I have paid and collected for each job?
How do I account for GST paid on private expenses?
Do I have to complete my depreciation entries before I run my BAS?
I do not have an ABN. Do I need to report PAYG withholdings?
Does Superannuation and WorkCover need to be included on the BAS?
Which account do I select when setting up 5A on the front page of the BAS form?
Should only amounts that are greater than $300 be included at G10 - Capital Acquisitions?
How do I record both income and expenses in the one transaction so that GST is reported correctly?
How do I lodge the BAS or IAS?
How do I work out my instalment income at T1?
When I save my BASlink template, do I need to link everything again when I create a BAS report?
Can I have more than one BASlink template in the BASlink Setup folder?
Why aren't my manual adjustments saved in my activity statement setup?
Can I copy my activity statement setup to another computer?
How can I save the values of my current BAS/IAS so that I can view them at a later date?
What does the option in BAS info 'I use the Simplified Accounting Method' refer to?
I print out my BAS/IAS from BASlink can I send it to the ATO?
What is the function of the Check button within BASlink?
Why can't I link any tax codes to G2, G3 and G4 on the Calculation Sheet in BASlink?
Where do I link the N-T tax code in BASlink?
I have accidentally linked the wrong tax code in BASlink. Can I unlink it?
How do I record both income and expenses in the one transaction so that GST is reported correctly?
I made a mistake on the previous activity statement I lodged. Can I correct it on my next BAS?
How do I deal with situations whereby the GST is less than 10% of the transaction value?
In these situations, the transaction needs to be 'split up' into GST taxable and non-GST taxable lines. For GST taxable lines, the GST amount is always 1/10th (exclusive basis) or 1/11th (inclusive basis) of the line total. In this way, BASlink can correctly calculate GST collected and paid at G9 and G20 by dividing G8 and G19 by 11.
Example
A purchase is made for $10,000 whereby $5,000 is subject to a 10% GST and $5,000 is a GST-free supply. The total tax inclusive value of the purchase is therefore $10,500. When entering the purchase in your software, you need to split the transaction into two lines. Assuming the purchase is entered as tax inclusive, the first line should have $5,500 allocated to the GST tax code, so that $500 GST is calculated. The second line should have $5,000 allocated to the FRE (GST-free) tax code, so that no tax is calculated. In this way, the GST is stated as 1/11th of the taxable supply and BASlink can calculate the correct GST paid at G20.
Do tax codes set up with a zero percentage need to be reported on the BAS?
Although some tax codes have a 0% rate, some transactions assigned such a tax code need to be reported on the BAS. For example the FRE (GST Free) and EXP (Export) tax codes are set to 0%, but the transaction values for GST-free items (including exports) need to be reported on the BAS. Note that transactions assigned the N-T (no tax) tax code do not need to be reported on the BAS, because they are outside the scope of the new tax system.
How do I record both income and expenses in the one transaction so that GST is reported correctly?
See support note GST and Transactions that include both Income and Expense Accounts for information about how to record income and expenses in the one transaction.
How can I see the amount of GST I have paid and collected for each job?
Jobs are only designed to track income and expenses. GST is not income or an expense to your business: it is something that you either have to pay to the ATO and/or will receive back from them. When you enter transactions you will see that the job number appears beside the income or expense part of the transaction only, not the GST Paid or Collected. By using Reports and the Design feature there is a way of obtaining this information for sales and purchases.
1. Go to the Reports menu and click Index to Reports.
2. Click the Sales tab and scroll down to the Sales [Customer Detail] report.
3. Click the Customise button at the bottom of the window then click the Report Fields tab.
4. Deselect the fields called Item/Acct and Description.
5. Scroll down and select Tax Amt and Job. Click OK.
6. Filter the report for the period you wish and display it. The report will show you the amount of GST along with the Job number.
The report is displayed in customer order. If you would like to display it in Job number order, you could use the Officelink facility and transfer the report to Microsoft Excel. The report could then be manipulated to appear as required.
Note: A similar report for Purchases is also available. It is called Purchases [Supplier Detail]. You would need to follow the same procedure as above to design the report.
How do I account for GST paid on private expenses?
GST paid on private or non-deductible expenses cannot be claimed as an input tax credit. GST paid on such expenses can be adjusted for the private or non-deductible portion at the time the expense is incurred or at the end of the BAS reporting period. Please see our support note GST Purchases with Private Use & Non-Deductible Business Expenses.
Why do some invoices/purchases appear on the Tax Code Exceptions report even though the invoice/purchase has tax codes?
The Tax Code Exception report is designed to list any transactions that have not been allocated a tax code on one or more line items. It also compares the default tax code for the ledger account used on a transaction line item against the actual tax code used. If these are not the same, the transaction will also be listed on the Tax Code Exception report.
When viewing the report, you can drill into the transaction by putting the cursor over it. When it turns into a magnifying glass you can click and view the transaction itself. This gives you the opportunity to check the tax codes and any other irregularity in the transaction such as blank lines.
What is the difference between the Calculation Sheet and Derived from Accounts methods of completing the GST section of the BAS?
Two methods the ATO has allowed businesses to use to complete the BAS are the Calculation Sheet and Derived from Accounts methods (note: some conditions apply). With the calculation sheet method, all GST fields are required to be completed and tax paid and collected is calculated by dividing fields G8 and G19 by eleven. Note that if you have manually adjusted your tax amounts through the tax zoom arrow when recording transactions, the Calculation Sheet method will not correctly calculate the tax collected and paid.
With the Derived from Accounts method, only certain GST fields are required to be reported, and the tax paid and collected is derived from your software. You should use this method if you have manually adjusted the tax amount in the Tax Information window when recording a transaction.
For more information regarding the use of your software and the different GST options please see the support note Using BASlink.
Do I have to complete my depreciation entries before I run my BAS?
No, depreciation can be entered at any time. Depreciation is a non-cash item and is also a non-taxed item and is not reported on the BAS. Therefore depreciation related transactions would be entered with the N-T tax code.
I do not have an ABN. Do I need to report PAYG withholdings?
Yes. PAYG withholdings must be reported.
Does Superannuation and WorkCover need to be included on the BAS?
Superannuation is outside the scope of the GST and does not need to be reported. Although workcover is accrued in payroll, it does not need to be reported in any W fields. There is however GST on Workcover premiums that may be claimed as an input tax credit.
Which account do I select when setting up 5A on the front page of the BAS form?
You should select the account for your PAYG Instalment: usually amount.
Should only amounts that are greater than $300 be included at G10 - Capital Acquisitions?
Theoretically, only amounts greater than $300 should be included at G10. However, there is no legislation to support this. If your accounting threshold for depreciating assets is higher than $300 you can use that threshold for reporting at G10.
Should G11 and G14 include voluntary withholding purchases and purchases where customers do not provide an ABN?
All purchases need to be included at either G10 or G11. All purchases with no GST in the price need to be included at G14.
How do I record both income and expenses in the one transaction so that GST is reported correctly?
See the support note .
How do I lodge the BAS or IAS?
If you do not use the services of a tax agent you can lodge the BAS over the Internet using the ATO's Electronic Commerce Interface (ECI). However, the IAS cannot be lodged over the Internet.
If you use the services of a tax agent you can have the BAS or IAS lodged via the Electronic Lodgment Service (ELS).
Alternatively, you can lodge the BAS or IAS through the mail.
How do I work out my instalment income at T1?
Instalment income at T1 is, as a general rule, the assessable gross ordinary income derived in the instalment period for the income year.Do not include the GST, WET or LCT you charge your customers, clients or tenants in your gross ordinary income. There are specific instructions for calculating instalment income for partners and beneficiaries of trusts.
When I save my BASlink template, do I need to link everything again when I create a BAS report?
When saving the BAS template it will save all the codes and accounts that you have linked to the template. This means the next time you go into the template in BASlink it will update the 'G' and other fields on the BAS automatically provided BASlink is filtered correctly.
I have just completed my BAS and have clicked on the Transaction button. I noticed that there is a large amount being posted to an adjustments and rounding account. Why?
If you have manually changed the tax amount calculated on a transaction through the tax zoom arrow, an amount might be posted to an adjustments and rounding account. This should not be done if you are using the Calculation Sheet method of completing the GST section of your activity statement. The integrated BASlink feature has the capabilities to verify BAS fields that have been overtyped. As a result, if for example, you manually overtype BAS field G1, the transaction produced will have Adj - 1A - GST Payable. This will make it easier to find any errors made in BASlink.
How do I filter BASlink if I am reporting GST on a quarterly basis and PAYG Withholdings on a monthly basis?
You need to specify this in the BASInfo area of BASlink. Click the BASInfo button, and then navigate to the GST reporting frequency field. Choose the Quarterly option from the drop down window. Then navigate to the Withholding reporting frequency field and choose monthly (medium withholder) for PAYG Withholdings. BASlink will then report correctly for GST and PAYG according to their different periods.
Can I have more than one BASlink template in the BASlink Setup folder?
Yes. You can have as many templates saved in the BASlink Setup folder as you like.
Your activity statement setup, including certain default values, will be saved when you exit BASlink by clicking the Save Setup & Exit button. This will save your BAS/IAS field setup in your BASlink setup folder using a combination of your ABN and Branch ABN or Tax File number as the file name (This setup will be used as a template when you next complete your activity statement)
Example
If your company ABN is 12 345 678 912 and your Branch ABN is 12345, your activity statement setup template will be saved as the combination of both (i.e. 1234567891212345.bas).
However, any manual adjustments you make to any values in your activity statement will not be saved in this file. If you need to exit BASlink part way through completing your activity statement, you will need to re-enter any manual adjustments you have made when you return. Therefore, you should make sure that you have allocated adequate time for completing your activity statement.
Note: Your field setup is saved when you click OK in the Field Setup window. You should store a copy of your backup away from your computer in case your computer malfunctions or entries are inadvertently made to the settled GST period. This way you can be sure that you can reproduce your activity statement if required.
I have more than one company and I require a different activity statement setup for each. How can I do that?
If you use BASlink for more than one company and the setup of each company is similar, you can use the Save As command in BASlink. Go to the File menu choose Setup and click Save As. You need to name the file using the combination of the company's ABN and Branch ABN (or the Tax File Number if it is an Instalment Activity Statement setup file) in order for BASlink to automatically use the setup file for each company. .
You can edit your setup file by going to the File menu in BASlink and selecting Setup and clicking Open. You will then be able to change the setup of the tax codes and the linked accounts.
Why aren't my manual adjustments saved in my activity statement setup?
Manual adjustments made to any values in your activity statement will not be saved in this file. If you need to exit BASlink part way through completing your activity statement, you will need to re-enter any manual adjustments you have made when you return. You should, therefore, as stated above, make sure that you have allocated adequate time for completing your activity statement.
Can I copy my activity statement setup to another computer?
Yes. To copy the setup file to another computer, open the BASlink/Setup folder in Windows Explorer and copy the .bas file to an external storage device, like a USB drive. Copy the setup file to the other computer's BASlink/Setup folder.
How can I save the values of my current BAS/IAS so that I can view them at a later date?
In BASlink, go the File menu and select Backup Data. . . This will save the current period's activity statement values to a .bak file, which you can review at a later date You can save the file with the default name (the month and year), or override it if you have more than one business completing the activity statement that month.
When I run BASlink, some of the G fields are greyed out so that I cannot calculate figures for them. Why is this?
If you have elected to use the Derived from Accounts method of reporting (in the BASInfo filters for BASlink), not all fields on the BAS are required to be filled out.
What does the option in BAS info 'I use the Simplified Accounting Method' refer to?
Some retailers that deal with a range of GST-free, taxable and mixed sales who do not have an adequate point of sale (POS) system and an annual turnover less than $1 million ($2 million in the 1st year), can use one of the ATO's simplified accounting methods.
Three simplified accounting methods have been introduced, which relate to trading stock only. Businesses will still need to separately account for other sales such as the sale of capital equipment, and other purchases such as rent, phone and other operating expenses. Please see your MYOB Addendum for more information and for using the Simplified Accounting Method.
If I print out my BAS/IAS from BASlink can I send it to the ATO?
No. You must either manually fill out the BAS or IAS sent to you by the ATO or lodge your BAS/IAS electronically. The reason you cannot send in the printed BAS/IAS is that the ATO copy has a barcode on it and the ATO require this copy for processing.
What is the function of the Check button within BASlink?
The first step to finalising your activity statement is to check it for errors. BASlink does this for you automatically when you click the Check button. If there are any errors in your activity statement, for example, a field has not been completed or it has an invalid amount, an Error List will be displayed, detailing the error and the field name. You should fix all errors before you lodge your statement. You can click the Help button for a detailed explanation of the errors. To fix an error, click the zoom arrow. BASlink will take you to the relevant field on your activity statement where you can make the necessary corrections.
When I print out my BAS from BASlink, I get a disclaimer message printing out. How can I prevent this?
When you go to print the BAS, a 'MYOB BASlink Disclaimer' window appears. To stop the disclaimer printing, simply tick the box do not show again.
Why can't I link any tax codes to G2, G3 and G4 on the Calculation Sheet in BASlink?
All reportable income needs to be shown at G1. This income is then 'broken down' in G2, G3 and G4. Hence if the tax codes relating to G2, G3 and G4 are not selected in G1 you will not get the option to link them to G2, G3 and G4.
Where do I link the N-T tax code in BASlink?
Any transactions with N-T (no tax) tax codes are outside the scope of GST and are not reported on the BAS. Examples of N-T items are depreciation, bank transfers, and stock movements.
I have accidentally linked the wrong tax code in BASlink. Can I unlink it?
Yes. Simply click on the Setup button next to the BAS code and remove the X next to the tax code.
How do I record both income and expenses in the one transaction so that GST is reported correctly?
See the support note .
I have set up a tax code with a percentage value (tax rate) of less than 10%. Why can't I select it in BASlink?
Tax codes set up with a tax value of less than 10% cannot be selected in the Setup area of BASlink for the G fields. An example of where the GST rate is less than 10% is long-term accommodation in commercial residential premises. GST is charged at the effective rate of 5.5%. In these circumstances, do not set up a tax code with the rate of 5.5%. The ATO have stipulated that in these circumstances, the amount to be shown at G11 on the BAS is the GST shown on the tax invoice multiplied by eleven, instead of the amount actually charged for the accommodation.
This of course has implications for the way purchases/cheques are entered.
Example
A businessman receives a tax invoice for $1,000 (GST-exclusive) for long-term accommodation expenses. The GST he is charged is therefore 5.5% x $1,000=$55, and the total inclusive value of the invoice is $1,055. If this transaction is entered as a purchase or cheque, you would enter the first line as 11 x $55=$555 with a GST tax code (assumes inclusive purchase). On the second line of the purchase you would allocate $500 to the N-T tax code, as only the $555 should be reported.
This overcomes the problem of tax codes with a value of less than 10%. There are other situations, such as sales and purchases that relate to long term accommodation that are treated in a similar manner.
I made a mistake on the previous activity statement I lodged. Can I correct it on my next BAS?
In these circumstances, you should contact the ATO. The ATO have a hotline to ring on this topic; Ph 13 2478 within Australia.
I have rolled over my company file to the new financial year. How do I complete my BAS for the last quarter of the previous financial year?
When a company file is rolled over to a new financial year, all closed transactions (such as sales and purchases that have been fully paid) are purged. This means that in order for BASlink to extract all the relevant financial data for the 4th quarter, you will need to restore a backup taken before rolling over the financial year in order to complete your 4th quarter BAS.
I am trying to run BASlink after upgrading my software and I cannot locate my BASlink template setup that I used to complete my last BAS. How can I find the template and use it in my new software version?
The BASlink template is saved by default into the BASlink setup folder using a combination of your ABN and Branch ABN (if you have one) as the file name, with a file extension of .bas This template should be used every time you complete your BAS. When you upgrade your software, you need to copy across this file from the Setup folder in the BASlink folder in the old version of your software, to the Setup folder in the BASlink folder in the new version of your software. You will then be able to select this template in your new software.