I’m not an accountant but the Summary page used to only show the GST payable balance in the current year and now goes back to the start of my usage of Manager. It’s only occurred since mid last year following an update. How can I set it up to only show current year in Summary. I’ve set the Summary balances page for the current year but this has not changed the GST Payable on left side of Summary.
When you pay your BAS you have to allocate the BAS GST payment to that account
We are a charity and almost never have had to pay BAS, nearly always a refund.
You still have to allocate the BAS GST payment or receipt to your “GST payable account”.
When done properly the BAS GST adjustment will reverse the net changes for that quarter. If not done the balance will accumulate.
Thank you. I’ll see what I can do to fix it. I wonder why our Auditor who has just checked the accounts did not alert me to this. Anyway - thank you for your replies.
Probably because your auditor failed to understand the offsetting nature of Manager’s tax code scheme. Or because whoever designed your chart of accounts did not consider this.