Continuing the discussion from How to enter a BAS payment:
I’m currently operating my business on a Cash Basis with the ATO and paid my GST to the ATO from one of my bank accounts on August 6.
The amount paid was $457 and it was entered into Manager under the “Tax Payable” Liability Account.
So far this month, my GST calculation is showing an amount around of $338 payable.
The reason for my post is that when I look at the “Summary”,it’s showing an amount close to $795 as “Tax Payable” under the “Other Liabilities” heading.
Obviously, it seems as though this figure is based on last month’s GST (that’s already been paid) added to what is owed (so far) for this month.
What I don’t understand is, why the figure wasn’t adjusted when I paid last months payment to the ATO.
Once again, I look forward to hearing back from someone to tell me where I am going wrong