Why does the Business Activity Statement G1 Increase or decrease by the amount of G3?
The Tax Summary is correct but the BAS total Sales increases or decreases by the amount in G3 ( Other GST Sales)
Did you note what G1 represents - Total Sales - not just GST Sales…
That is, ALL sales including those separately reported under G2, G3 and G4
Yes that is the problem because it is treating just deposits and not sales as sales therefore adding or subtracting the deposits to Sales in G1
How are you entering the deposits? Please show an Edit screen.
When I enter Sales through a Journal - I enter sales from the source (Invoice) as Sales and the second side of the entry as Undeposited funds (Cash Basis) then the funds as a deposit into the relevant Bank Account
Your problem is that a sale should be entered as either a sales invoice (for credit) or a receipt (non-credit).
Most of my clients are on a Cash Basis who do no issue Invoices only a Cash Register Docket and their money is deposited on a weekly basis so all monies for a month is not deposited in that month but their sales are recorded on a daily basis. Thus the cash basis for sales - some are paid for by cash and some by EFTPOS the Eftpos sales are therefore deposited immediately but the Cash Cales are recorded daily on the Cash Register and accounted for as such but the deposits for the month are not the same and are added separately intoG3
The Profit and Loss Statement only shows the Income as recorded no the deposits. The Tax Summary shows the GST Sales and the GST Free Sales - the GST Free Sales are Bank Deposits not Sales
Well, as I said earlier, you need to post screen shots of Edit screens of relevant transactions. Follow a typical example through your process. In your descriptions, use terminology from the program and describe exactly which transaction forms you are using, which accounts, etc.
Also understand that a deposit is not a sale. And if you are going to take deposits, you need customer ledgers of some type, either as customers in Accounts receivable or as special accounts. But until you have described what you are doing in more detail, it is not possible to tell if you are doing things correctly.
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Hi Tut,
These are 2 of the pages that show the income.to the Access Account
The second is the acrual deposits into the bank recorded as a sale
Actual Deposits
Your first screen shot shows a payment, not a receipt. It also has no payer/payee designated. So it cannot be income for anyone. And it cannot be a deposit. So I do not know what it is supposed to show, but certainly not what I asked to see. It is also a View screen, not an Edit screen, so its usefulness for troubleshooting is limited.
Your second screen shot is a completely unrelated transaction. It also has no payer, so it did not come from anyone as far as the program knows.
Together, they do not follow a transaction through your process as I asked. At this point, I can offer no help.
Tut,
These are the Bank Payouts and Bank deposits.
The Deposits are the Sales from Various Customers and the Payments are the Payouts by the account Holder - The Transfer to the Access Manager is the cash (not Income to another account the Client makes cash payments from. The amount of $11,902.92 is the amount that has been picked up in the program ad G3 other GST Free Sales and added it into G1
Thanking you
Sorry I sent the wrong Screenshots in the first lot.
I am sorry, but these screen shots are no more helpful.
First, you are only showing part of the Edit screens. So it is not even possible to tell what type transaction the first one is. And your description does not indicate which you think represents “The Deposits” and which represents “the Payments.” You also have not described their relationships to “Sales from Various Customers” or “Payouts by the account Holder.”
If the first of your two most recent screen shots is supposed to be a payment, you seem to have mixed bank charges (which would be payments to a bank) with a payment to ANZ Access Advantage (whatever that is, since you have never mentioned it) and partner’s drawings. So you potentially have at least three different counterparties to a payment, possibly more. That cannot be. Is this another of your transactions with no payer or payee?
The second of your two recent screen shots, as I said when you showed it earlier, has no payer. Are all these line items, which look like cash sales, received from the same source? If not, they cannot be on the same receipt.
You mention a “Transfer to the Access Manager,” but you have not shown any inter account transfer. Nor have you said what the “Access Manager” is.
I repeat my request: Provide a description following a transaction all the way through the process and show complete Edit screens for all transactions involved. No one else understands what you are trying to do. So you must explain it completely.
The fact is, your BAS worksheet is probably working perfectly. But you have definitely made some errors in your accounting entries that we have seen. And you may be making others. Until those are sorted out, there is no hope that the BAS worksheet will provide correct information.
Yes all of the Deposits are from the same source. Recorded as Sales under Code 41000 in my Chart of Accounts. The Access Account that I mentioned is the ANZ Access Advantage Account Under Asset Accounts in the Chart of Accounts this is money that was paid out of one account into another Namely from Business Premium Saver to the Access Advantage A/c - I am using Manager Program as a Cashbook for this client therefore all Transactions are treated as cash and either deposited into the Income, Expenses or Equity(Drawings) accounts in the Chart of Accounts.
Based on what you have said, you should not expect the BAS worksheet to function.
It does and it used to until about four months ago