GST Calculation worksheet & private use

  1. I’m having trouble checking if the GST calculation worksheet for BAS is actually correct. I suspect not because I did one report before I had allocated the purchases from 2 missing credit card statements (when these 2 transactions were unallocated & in suspense. I then got a copy of the statements & allocated (split the transactions) as necessary. Then I did a new GST Calculation report and the net payment figure at the bottom was the same. It should have changed because there were materials, fuel etc all entered. The extra transactions are listed on the GL transaction report.

  2. I see that there is an amount in G14 - purchases without GST. But no amount in G15 - purchases for private use. As suggested in another topic this week, all private usage portions (eg for telephone etc) I allocated to ‘Owners equity’ account. Is the report correct & no need to account for private or have I allocated incorrectly? (There are over $15,000 in debits for private use amounts in Owners Equity on GL transaction report.)

  3. On the Tax transactions report, the total purchases & total sales figures, GST free sales & GST free purchases all match to GST calc report. Private use figures don’t seem to appear anywhere and how can I check how it got the figures for capital/non capital purchases?

  4. GST Free sales includes a government incentive payment (correct) and 3 interest portions of 3 loan payments which were credited to Unpaid interest account on BS and debited to Interest expense??

  5. To get figures for PAYG withheld (employee taxes) I can use the payslip summary report? And to get the PAYG Instalment (personal tax) I use the net income figure on tax summary report?

Anyway, I need to lodge it this afternoon so I’m hoping I can lodge & go ahead & fix any issues later. Sorry I’m used to a manual system and I’m trying to double check everything. If there’s some quick adjustments possible I’m ready for them!

See my answers to your queries below:

  1. Use the Tax Audit under Reports to check if GST was correctly allocated to each transaction by clicking on the figures to drill down to individual transactions.
  2. There is no need to report purchases for private use.
  3. Use the Tax Audit report.
  4. There is no need to allocate a tax code to interest and loan amounts.
  5. Use the Payslip Summary Report and the Payslip Deductions Summary if you have any other types of deductions.

Hi, wonderful program. I also have no figures showing G15 for private use. why are they not showing, have I done something wrong! The figure is avaliable in Tax Audit so why is it not showing on worksheet?
Thanks for your reply.