Capital & Non-Capital Purchases GST Calculation Sheet

1

Hello,

This is the first time I have run the GST Calculation Worksheet for BAS after running my accounts through an Excel spreadsheet and I have a discrepancy with the Capital and Non-Capital purchases (G10 and G11). My total purchases are correct, however the individual line items are incorrect.

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The totals should be as follows:

G10 Capital Purchases: $12,613
G11 Non Capital Purhcases: $175,216

I have run a Tax Audit Report as follows:

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If I add up the total Assets on the Tax Audit Report I end up with the same total of $175,216 if I add the GST back in.

I have run these same transactions through my Excel Spreadsheet as well to ensure Manager output was correct but noticed this discrepancy.

Have I incorrectly entered something? I have doubled checked everything that I can think of with nothing popping out as obviously wrong. When I drill down on the GST Payable Line for GST transactions, nothing appears as I cannot see if that is the issue.

If anyone can see anything wrong I would greatly appreciate the assistance.

Thanks in advance.

2

Search the forum before posting new questions. A fix for this was just announced. Update your software.

3

Thanks for your reply. I had searched the forum but nothing was directly related to my issue. Hence the

I have updated the software as advised and now everything is appearing in the capital purchases G11 line. This is incorrect as I have non capital purchases as well. Split in earlier post. Below is screenshot of new report after update.

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Is this another bug?

Thanks

4

There is new tax code GST 10% (CAPEX) which you can use to show figures under G10.

The reason for new tax code is that it’s impossible for software to automatically separate purchases into CAPEX and non-CAPEX as there are many edge cases.

5

Thanks Lubos. Worked a treat!