Incorrect GST in BAS worksheet summary

1

Hi,

I’m just doing my Q3 BAS and in my summary the payment amount is wrong compared to what the ATO have indicated in the business portal. My summary in Manager looks like this:

1A GST on sales $134
1B GST on purchases $100
9 Your payment $35

Is there some rounding going on here that is causing this incorrect calculation? The amount according to the ATO is $34. I can fix it when I reconcile the payment by allocating the difference to my GST rounding account but that seems slightly dirty since I would have expected it to be correct in the worksheet.

If I generate a tax summary for the same period the tax liability shows as $34.72 which looks correct.

Thanks,
Sam

2

Rounding of each total does not correlate to the sum total. This is common in other financial reports when individual rounded figures do not match the total of the rounded figures. You should adopt the net amount payable figure of $35 and increase the GST on sales by $1 or reduce GST on purchases by $1.

3

Thanks for your reply. Those solutions don’t make sense to me though. The ATO requires you to round down to whole dollars so surely the GST worksheet should do the same thing?