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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/TwD
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 BAS or IAS to find the information needed for your transaction.
Enter your ATO payment using a Spend Money transaction with a separate line for each of your BAS fields.
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. | 1-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.
Enter your ATO refund a Receive Money transaction with a separate line for each of your BAS fields.
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. | 1-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.