BAS report for Australia
Andrew Greig
pushin.linux at gmail.com
Fri Jul 5 07:01:48 EDT 2013
Hi,
In Australia we need to complete a Business activity statement on a
regular basis. I have set up two Liability accounts under a parent -GST
payable to ATO (Australian Tax Office). The two accounts are "GST
Collected" and "GST Paid". GST is collected by me on each invoice, and
is paid on each expense.The difference between the two accounts is the
sum I need to pay the ATO. When I am profitable I pay them and if I turn
a loss they pay me. So - assuming a profit I make a payment to the ATO
as a withdrawal from my Checking Account and balance it with a credit to
my Tax Paid account, so then the Parent account should then read "$0.00"
To assess my debt or otherwise to the ATO I run a transaction account
using the two liability accounts described. It is a very basic report,
but I would like to save it as a Custom report (changing the period as
needed). I thought there was an item in the Help docs about saving a
report as a custom report, but I have been unable to find it. Where
should I look, or how can I do this, please?
Andrew Greig
Melbourne, Australia
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