Reconcile GST for EOFY in Xero
HTML-код
- Опубликовано: 5 фев 2025
- 👉If you would like to book in a training session: qtraining.net.au/
In this video we're going to look at the GST Reconciliation report in Xero and how it can be used to reconcile your GST account before lodging the final BAS for the end of financial year.
This report will pick up any changes that may have been made in Xero after a BAS was lodged for a particular period. After running the GST Reconciliation report you will be able to make the necessary adjustments into the final BAS lodgement for the year.
It will also ensure your BAS figures align to the tax return.
Thanks for watching.
#Xero
#BASTrueUp
#BASReconciliation
#EOFYBAS
How do you fix the case where the Balance of the GST Account Summary differences from the GST Account Balance found at the bottom of this report?
Only issue I had was it looks totally different to my Xero as I am missing the adjust portion entirely - it however does allow me to input into the GST screen; is this correct? I have some that I've filed way too much in one quarter, too little the next (as they moved a massive invoice out)
was helpful. thanks
You're welcome.
Hi, is the filled section automatically entered after we lodged the BAS or do we need to fill in the amount ourselves based on the BAS amount lodged? Many thanks.
It may auto-fill of you lodge the BAS via Xero but I usually lodge via the ATO portal and enter the figures myself. It's probably a good check to enter the figures direct from what was lodged on the ATO end rather than rely on a pre-filled (if any) amount.
Hi, what do we do in the case when the ATO rounds up or down the figure to the nearest dollar? The GST rec will show that a couple of cents is unfiled. Do we put it under the adjustment column the difference or should we create a manual journal?
Hi Jay. You can ignore the cents as we only report to the whole dollar but if you want to clean it off the books to have a 0.00 GST closing balance you could post a journal.