BAS Report

This Function enables you to set up, print out and save standard BAS/VAT statements. Statements can be created for all or individual departments in an Accrual of Cash basis.

Please note: ERP will require your accountant to setup and configure the BAS/VAT to ensure all reporting is correct for the ATO. The BAS/VAT reports rely on the correct tax codes being used in all transactions. It is recommended that you familiarise yourself with the tax codes within ERP and adjust as advised by your accountant. If you are in doubt about the tax codes you should be using for your transactions please discuss this with your accountant.

How to add a new BAS/VAT Statement:

Step 1. Select the Accounts Module and then the BAS/VAT report button. This will open the BAS/VAT report.

Step 2. This will open a pop up box with some tick options for you to select if required.

Step 3. The report will open on the Supplies and Acquisitions part of the report, from here select whether you require a monthly or quarterly period.

Step 4. From the drop down box labelled “Beginning” the month you want to begin from and the year you want to look at. The “Period End” box will be populated from these selections.

Step 5. Select the Options button and select the department you require the statement for or tick the “All” box.

Step 6. Choose an Accounting Method - Accrual or Cash and select OK to return to the main report screen.

Step 7. Save the report and the Description box will display to enter a name.

Step 9. Select Ok to Save and Close.

BAS/VAT Options:

You are able to create a BAS/VAT statement for either Cash or Accrual accounting method. The default selection is Accrual.

How to set the cash or accrual options:

Step 1. Select Options

Step 2. Select either Cash or Accrual

Step 3. Cash is used for Businesses using a cash basis of Accounting for Goods and Services Tax (GST) or Value Added Tax (VAT) payable and for input tax credits when payment for a taxable supply or creditable acquisition is either made or received.

Entities using an Accrual or Non Cash basis of accounting for Goods and Services Tax (GST) or Value Added Tax (VAT) and payable for input tax credits account for GST. When they receive or pay any consideration, or when an Invoice is issued or received, whichever occurs earlier. 

Creating BAS/VAT by Department:

ERP allows you the ability to create a BAS Statement by Department (Cost Centre) or by ALL Departments.

How to create BAS/VAT by Department:

Step 1. Select the Options button on the bottom of the form.

Step 2. Select the Department you are setting the BAS/VAT Options for or select All for every department.

Step 3. Select OK to save Adjusting the Configuration of the BAS/VAT Statement

The BAS/VAT Report is set up so that you can make changes to the tax code links. It is Important to note, that only a qualified Accountant should carry out this process. The selections need to be checked to ensure you get your desired results.

Step 4. Select the G1 button link for Total Sales & Income & Other Supplies.

Step 5. Included Tax Codes are CAG, E, EXP, FRE, GST, GSTIM, NCF, NCG, NT, PRI.

Step 6. Selected Tax Codes displays all the accounts that will appear under the total for G1.

Step 7. If modification is required, Hold Down the Ctrl Key and select the item/s you wish to add or remove from this selection.

Step 8. Select OK to save or select Cancel if you want to exit without saving.

Use the same process for all other BAS/VAT Buttons

Here are your list of Tax Adjustments:

Exports G2 - Included Tax Codes are EXP

Other GST-Free Supplies G3 - Included Tax Codes are FRE

Input Tax Sales & Income & Other Supplies G4

Adjustments G7 - Included Tax Codes are ADJ

Capital Acquisitions G10 - Included Tax Codes are CAF, CAG

Other Acquisitions G11- Included Tax Codes are NCF, NCG, NCI

Acquisitions for making input taxed sales & income & other supplies G13- Included Tax Codes are CAI and NCI

Acquisitions with no GST in the price G14 - Included Tax Codes are CAF and NCF

Total of estimated private use of acquisitions & non-deductible G15 - Included Tax Codes are PRI

Adjustments G18 - Included Tax Codes are ADJ Taxes and Amounts withheld 

Follow the same procedures as per Supplies and Acquisitions

Here is how:

Step 1. Select the BAS/VAT Report button, this will open the BAS/VAT Report Statement at the Supplies and Acquisitions section of the report.

Step 2. Select the Taxes and Amounts Withheld tab.

Step 3. Select the Reporting Period either Monthly or Quarterly.

Step 4. Select the Quarter beginning and Year.

Step 5. Click W1, W2, W3, W4, and/or T1 to View all the accounts that will appear under the totals.

Step 6. W1 is a combination of the Gross Wages expense accounts

E.g. all accounts that go into the Gross Wages as a total and W2 is the PAYG tax expense account.

Amounts will refresh as you click on these buttons.

Step 7. Select any of these buttons and the Select Accounts screen will load.

Step 8. If modification is required, Hold Down the Ctrl Key and click on the item you wish to add or remove from this selection.

Step 9. Select OK to save, or select Cancel if you want to exit without saving.

Fringe Benefit tax installment for the periodEnter in F1, F2, F3 and F4 fields the amounts advised by the ATO or your accountant

Here is how to edit BAS/VAT Debits and Credits:

Step 1. Select the BAS/VAT Report button this will open the BAS/VAT Report Statement at the Supplies and Acquisitions section of the report. Select the BAS/VAT Debits and Credits tab

Step 2. Click 1C, 1E, 1D, 1F, 1G to View all the accounts that will appear under the totals.

Step 3. The Select Accounts screen will appear.

Step 4. If modification is required, Hold Down the Ctrl Key and click on the item you wish to add or remove from this selection.

Step 5. All other fields will be populated with values calculated accordingly in respect to the selected tax codes for each of the Select Accounts fields.

Step 6. Select OK to save, or select Cancel if you want to exit without saving.

Tax Codes

The Tax Codes for your country will be pre-set when you download the software for your country.

BAS (Australian)

You should not replace any of the above codes as reports such as your BAS depend on the correct tax code being used.

VAT (Europe)