When you registered for GST you were able to choose the reporting period. This choice determines when you need to lodge your BAS. You will find the due date on your business activity statement BAS , however, if you are unsure, we have created a handy guide to help.

There are thee lodgement periods you would have been able to choose from, each affects your due date. Your GST reporting and payment periods will either be quarterly, monthly or annually. If you are unsure as to which period you chose, talk to our registered agents at baslodge. When you do register for GST you need to start reporting from the date that you registered for GST, not the date you requested to be registered.

So, if you have backdated you need to lodge a BAS for every period leading up to that date. For example: If you requested to be registered for GST on the 30 th of June but you back date it one year to the 30 th of June to and you apply for monthly reporting, you will need to lodge a BAS for every month you missed between June 30 th and June 30 th Accountants and Bookkeepers. Product Update.

Find a ProAdvisor. Need help choosing a plan? Need help? We're here for you. Schedule call. Created with Sketch. product update Lodging BAS Using QuickBooks Online By Lauretta Finis. Set Up GST If the business is registered for GST, you will first need to set this up: On the left-hand navigation menu select the GST tab; this will take you to the GST Centre.

New Accounts in Your Chart of Accounts Once you have set up your GST, two new accounts will automatically be created in your Chart of Accounts: BAS Liabilities BAS Suspense The BAS Liabilities account is where the GST Collected and GST Paid amounts are posted when the transaction includes GST.

To Process Your BAS Select the GST tab from the left-hand navigation bar. Once you click on Continue , this creates a two-line journal entry that moves what you owe or what you are owed from the BAS Liability account to the BAS Suspense account more information on journals at step 5 : DR to BAS Liabilities CR to BAS Suspense assuming GST is due and payable to the ATO.

Journal Entry QuickBooks Online will create the journal entry debiting or crediting if you have a refund to the BAS Liability account and posting to the BAS Suspense account. Adjusting the Date the Journal was Created The Journal Entry will be created as at the date you clicked on Mark as Lodged.

To reverse the journal: Open the journal from the recent transactions field Select the Reverse tab in the bottom middle of the Journal Entry screen Ensure you use the same date as the original journal to zero out all accounts on the same day for easy reconciling Click Save and Close Then process a new journal with date, description and account details as required.

Making Payments When making a payment or receiving a refund for a BAS you have lodged, you have two options. Posting to BAS Liability Account Do not post journals directly to the BAS Liability account.

PAYG and IAS There are two options when it comes to reporting monthly IAS and Quarterly BAS in QuickBooks Online. Option 1: Using KeyPay If using KeyPay in QuickBooks Online, you will need to edit the journal entry that QuickBooks Online creates by deleting the tax codes.

Option 2: Process PAYG using journal entries if not using KeyPay for payroll If you are not using QuickBooks Online payroll, or you may be using a dedicated payroll company, then you would process your wages and PAYG as normal via a journal entry to bring the amounts into the financials.

Tags QuickBooks Online Business automation. Related Articles. taxes Your guide to Uber GST: How to collect and pay taxes as a driver February 28, product update Quoting in QuickBooks Online May 14, Smart features made for your business. We've got you covered. See how it works. Use our product selector to find the best accounting software for you.

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There is no limit on the number of subscriptions ordered under this offer. This offer cannot be combined with any other QuickBooks Online promotion or offers. Trial : First thirty 30 days of subscription to QuickBooks Online, QuickBooks Self-Employed and QuickBooks Payroll including QuickBooks Advanced Payroll , starting from the date of enrolment, is free. During the free trial, you may pay any number of employees using QuickBooks Payroll free of charge. To continue using QuickBooks after your day trial, you'll be asked to present a valid credit card for authorisation and you'll be charged monthly at the then-current fee for the service s you've selected.

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Devices : QuickBooks Online, QuickBooks Self-Employed and QuickBooks Payroll require a computer with Internet Explorer 10, Firefox, Chrome, or Safari 6 and an Internet connection a high-speed connection is recommended. taxes Filing a late tax return: What to do if you miss the tax return due date February 13, taxes Your guide to Uber GST: How to collect and pay taxes as a driver February 28, taxes Are Transportation and Travel Tax Deductible?

April 6, Smart features made for your business. We've got you covered. See how it works. Use our product selector to find the best accounting software for you.

Choose your product. Get help with QuickBooks. Find articles, video tutorials, and more. Start learning. Prices are in AUD and include GST. See our Terms of Service for further information. Pricing : All prices are in AUD. ProAdvisor Program : Please find the terms of our ProAdvisor program here.

From month 4 from the date of enrolment, the price will change to the then current monthly price. See current prices here. QuickBooks Payroll prices are not eligible for this discount. For further details about QuickBooks Payroll prices see here.

Your account will automatically be charged on a monthly basis until you cancel. You may cancel at any time. There is no limit on the number of subscriptions ordered under this offer. This offer cannot be combined with any other QuickBooks Online promotion or offers.

Trial : First thirty 30 days of subscription to QuickBooks Online, QuickBooks Self-Employed and QuickBooks Payroll including QuickBooks Advanced Payroll , starting from the date of enrolment, is free. During the free trial, you may pay any number of employees using QuickBooks Payroll free of charge. To continue using QuickBooks after your day trial, you'll be asked to present a valid credit card for authorisation and you'll be charged monthly at the then-current fee for the service s you've selected.

QuickBooks Payroll powered by KeyPay : Payroll services are offered by a third-party, Webscale Pty Ltd, the makers of KeyPay. QuickBooks Payroll is only accessible via QuickBooks Online subscriptions. Pricing, terms and conditions, including service options, are subject to change. You'll also find useful resources in the QuickBooks Community. Devices : QuickBooks Online, QuickBooks Self-Employed and QuickBooks Payroll require a computer with Internet Explorer 10, Firefox, Chrome, or Safari 6 and an Internet connection a high-speed connection is recommended.

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The most common lodgement period is quarterly. You can watch our BAS Webinar here. If the business is registered for GST, you will first need to set this up:. On the left-hand navigation menu select the GST tab; this will take you to the GST Centre. Click on Set up GST. This will start the set up process of GST in your business file. Enter your business information in the window that pops up, such as ABN, GST method, GST lodging frequency.

This information will be found on your paper form. If not, please contact your BAS or Tax Agent. Once you have set up your GST, two new accounts will automatically be created in your Chart of Accounts:. The BAS Liabilities account is where the GST Collected and GST Paid amounts are posted when the transaction includes GST.

The BAS Suspense account is like a clearing account; once you lodge your BAS in QuickBooks Online, the amount payable or refundable will be posted to this account. These two accounts can be renamed if you prefer. From your Chart of Accounts, click on Edit and change the name. Assuming you have done your normal bookkeeping tasks, bank account reconciliations, GST reconciliation and completed your BAS Checklist for compliance issues.

click on Run Reports , check your Exemption Detail, Detailed Report and BAS Summary Report from the drop-down menu. Ensure the dates are correct for the reporting period, either monthly, quarterly half-yearly or yearly. Select Complete BAS and ensure if any exemption amounts are shown in the column, these amounts will be adjusted to the GST on Sales field and GST on Purchases field in this report. These amounts in this report are to be reflected in your BAS Lodgement to the ATO.

Check that the PAYG and Wages amounts have come across to W1 and W2 correctly see step 9, PAYG and IAS. When the whole process has been checked and reconciled, you then need to lodge your BAS as you normally would, via a paper statement, your Business or BAS Portal. Also, QuickBooks Online integrates with GovReports so the lodgement can be processed through the GovReports website. Either way, you need to hit the Mark as Lodged button, at the bottom of the window.

When this process has been completed, QuickBooks Online saves a snapshot of your lodgement and generates a journal to reduce the BAS Liabilities account by what is being paid, and moves this total amount to the BAS Suspense account.

Clicking on the Mark as Lodged button will bring up a window to confirm you will be closing the books for the GST period and any transactions changed from this period and previous periods will be shown in the GST exemption report next quarter or cycle of BAS reporting.

Once you click on Continue , this creates a two-line journal entry that moves what you owe or what you are owed from the BAS Liability account to the BAS Suspense account more information on journals at step 5 :. Your BAS has now been closed and is ready for the next cycle of BAS Lodgement. Check the View history tab to view your BAS Lodgement. This will give you history of any previous BAS lodged and any payments made if processed through this screen.

It will also have the three reports generated for that period when you Mark as Lodged — the BAS Summary, Detail and Exception Detail. QuickBooks Online will create the journal entry debiting or crediting if you have a refund to the BAS Liability account and posting to the BAS Suspense account.

If payroll is processed through the payroll centre, the journal will also capture the debit to PAYG Withholdings Payable and credit to the BAS Suspense account. The Journal Entry will be created as at the date you clicked on Mark as Lodged. The journal date can be edited if you want to reflect the journal date as at the last day of the quarter or period you are reporting on, so that your General Ledger accounts are as you prefer to see them for reconciliation purposes.

A work around is to reverse this journal and redo this at the date, description and additional account details as required. When making a payment or receiving a refund for a BAS you have lodged, you have two options. Option 1 : Record the payment from the GST Centre by clicking View History and then select Record under the Payments column. DO NOT USE THE Record Payment button in the GST Centre. This is meant for upcoming filings and will create a discrepancy on your next return if used incorrectly.

Make sure you enter the correct date of payment and choose the bank account of payment. This can be called many things to many Advisors, but as a general rule this account is what is owing at the ATO Integrated Client Account Running Balance. Recording your journal to the ATO RBA Clearing account allows the reconciliation at quarter end to both the Balance Sheet account and ATO account. In some instances, you may have clients that have a payment plan and this works well so strict control in this account takes place.

Do not post journals directly to the BAS Liability account. You are allowed to, but I would recommend not to. You can, however, assign the GST code on the line item when processing through the journal entry and this will work correctly for your BAS Reporting and Lodgement.

There are two options when it comes to reporting monthly IAS and Quarterly BAS in QuickBooks Online. If using KeyPay in QuickBooks Online, you will need to edit the journal entry that QuickBooks Online creates by deleting the tax codes. These tax codes are automatically created when payroll is turned on and it is these tax codes that populate the amounts on the BAS Worksheet in the GST Centre Complete BAS tab. You will need to do this for the first two months of the quarter ONLY and then leave the journals for the third month, as you want this to appear on the Quarterly BAS Worksheet.

For the payments for the first two quarters, you can create an Expense for payment and take it directly out of the account PAYG payable on the date of payment.

Or, if the end of month dates are important to reconciling the PAYG Withholding account, journal the PAYG amount to your BAS Suspense account or ATO RBA Clearing account so you have a running balance of the GST and PAYG which will match your integrated client account. If you are not using QuickBooks Online payroll, or you may be using a dedicated payroll company, then you would process your wages and PAYG as normal via a journal entry to bring the amounts into the financials. If IAS is required on the last month of the BAS cycle, when processing the journal to your Wages and PAYG add W1 and W2 so this will be reflected on your BAS Worksheet.

This will add it to your BAS for the quarter cycle for the month. If only reporting PAYG Quarterly, you will need to add the W1 and W2 to all the journals for the quarter so that the quarter totals are reflected in the BAS Report. The amounts of PAYG will be picked up via the journal when processing the BAS as mentioned by clicking Mark as Lodged.

This will generate the system journal and then you decide which procedure you would like to follow. Lodgement of your BAS for your business can be complex. Your guide to Uber GST: How to collect and pay taxes as a driver.

All rights reserved. Terms and conditions, features, support, pricing, and service options subject to change without notice. Here's how to lodge your BAS using Quickbooks Online. Explore Products. QuickBooks Blog. Starting a Business. QuickBooks Blog Starting a Business. Growing a Business. Running a Business. Accountants and Bookkeepers. Product Update. Find a ProAdvisor. Need help choosing a plan? Need help? We're here for you. Schedule call. Created with Sketch. product update Lodging BAS Using QuickBooks Online By Lauretta Finis.

Set Up GST If the business is registered for GST, you will first need to set this up: On the left-hand navigation menu select the GST tab; this will take you to the GST Centre. New Accounts in Your Chart of Accounts Once you have set up your GST, two new accounts will automatically be created in your Chart of Accounts: BAS Liabilities BAS Suspense The BAS Liabilities account is where the GST Collected and GST Paid amounts are posted when the transaction includes GST.

To Process Your BAS Select the GST tab from the left-hand navigation bar. Once you click on Continue , this creates a two-line journal entry that moves what you owe or what you are owed from the BAS Liability account to the BAS Suspense account more information on journals at step 5 : DR to BAS Liabilities CR to BAS Suspense assuming GST is due and payable to the ATO.

Journal Entry QuickBooks Online will create the journal entry debiting or crediting if you have a refund to the BAS Liability account and posting to the BAS Suspense account.

Adjusting the Date the Journal was Created The Journal Entry will be created as at the date you clicked on Mark as Lodged. To reverse the journal: Open the journal from the recent transactions field Select the Reverse tab in the bottom middle of the Journal Entry screen Ensure you use the same date as the original journal to zero out all accounts on the same day for easy reconciling Click Save and Close Then process a new journal with date, description and account details as required.

Making Payments When making a payment or receiving a refund for a BAS you have lodged, you have two options. Posting to BAS Liability Account Do not post journals directly to the BAS Liability account. PAYG and IAS There are two options when it comes to reporting monthly IAS and Quarterly BAS in QuickBooks Online. Option 1: Using KeyPay If using KeyPay in QuickBooks Online, you will need to edit the journal entry that QuickBooks Online creates by deleting the tax codes. Option 2: Process PAYG using journal entries if not using KeyPay for payroll If you are not using QuickBooks Online payroll, or you may be using a dedicated payroll company, then you would process your wages and PAYG as normal via a journal entry to bring the amounts into the financials.

Tags QuickBooks Online Business automation. Related Articles. taxes Your guide to Uber GST: How to collect and pay taxes as a driver February 28, product update Quoting in QuickBooks Online May 14, Smart features made for your business. We've got you covered. See how it works. Use our product selector to find the best accounting software for you.

Choose your product.

Running a Business. The QuickBooks Online mobile app works with iPhone, iPad, and Android phones and tablets. To a maximum of 5, business kilometres per car Deductions are only applicable to cars CSIA awards : Awarded by Customer Service Institute of Australia in Australian Service Excellence Awards: Winner Service Excellence in a Small Contact Centre , Customer Service Professional of the Year , Service Champion for Service Excellence in a Small Contact Centre , Service Champion for Customer Service Project of the Year - Service Innovation QuickBooks for you. Not all features are available on the mobile apps and mobile browser. See step 9 — Reporting your PAYG and IAS. Tags Small Business and Self-Employed.

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