GST Calculation Worksheet for BAS

[Brucanna]

@jimmy

I pay customs clearance, charges, duty and GST on imports in Australian dollar.

Whoever you are paying these charges to, is the Supplier you select (not - “I need to select a customer first”)

@jimmy

I usually pay from my personal account and I have an account as ‘Loan from Director’

In this case, you should be taking up those charges via an Expense Claim, not via a Suppliers Purchase Invoice. Under Setting - Expense Claim Payers you would set yourself up and after the Expense Claim has been created you would transfer the Expense Claim to the ‘Loan from Director’ via journal.

However, if you prefer to record these charges under the Supplier, then do a normal Purchase Invoice but take up the “payment” via a Journal - Debit Accounts Payable + Supplier + Invoice and Credit ‘Loan from Director’

@jimmy

Where should I use the code ‘GST on imports’ ?

Ok, the demonstration example is for worldwide use, however for Australia there is a special tax code.
Read this Guide

Australia: Handling GST when importing goods

GST is payable on most goods imported into Australia (taxable importations). GST on a taxable importation is payable by businesses whether they are registered for GST or not. However, if you are a GST-registered business and you import goods as part of your activities, you may be able to claim a GST credit for any GST you pay on those goods. If this is the case, you should add the tax code named Australia - GST on Imports. When you record the purchase of goods from overseas, do not select a t…

@jimmy

if I purchase a product with a GST amount on it . . . how can it reflects on tax reports using journal entry,

1. You shouldn’t be using Journals for purchases, that is what the Suppliers and Purchase Invoices tabs are for. 2) You don’t put GST entries directly to the Tax Payable account, you use the Tax field and then the amounts will automatically end up on the BAS.