This topic contains the process on how to prepare a Business Activity Statement (BAS) in BBS.
The Business Activity Statement report can also be run for months where an Instalment Activity Statement (IAS) is to be lodged instead of a BAS to obtain the figures for wages and PAYG. |
1.Ensure all financial transactions for the month or quarter for the BAS being lodged (ie. the 'BAS Period') have been entered and updated, including:
a.Post all required stock receipt invoices for the BAS period
b.Enter all required creditors invoices for the BAS period
c.Perform bank reconciliation on all bank accounts and credit cards for the BAS period
2.Set your BBS Processing Date to the date at the end of the BAS period (eg 31st March)
3.If you use the ATO 'Online Services for Business' portal (formally 'Business Portal') to lodge your BAS, login to the portal, view the BAS for the BAS period and note down any pre-filled figures on the BAS. Alternately, review the hard-copy BAS form for any pre-filled figures.
4.Calculate any manual BAS figures (eg Fuel Tax Credits)
5.If you have any pre-filled or manually calculated BAS figures:
a.Open BAS Report Value Entry/Maintenance from Main Menu > General Ledger > Maintenance > GST/BAS > BAS Report Value Entry/Maintenance
b.Enter in the pre-filled BAS Figures ensuring the correct BAS period is selected at the top
6.Run the Business Activity Statement report from Reports Menu > General Ledger > GST/BAS Reports > Business Activity Statement
a.Leave parameters as their default and click OK
b.Check the report for variances in GST (field GZZ) and PAYG (WZZ). Assuming that you have been entering your previous BAS payment transactions as creditors invoices in the correct accounting period, these variances should be low. Depending on the GST calculation method for sales set up in your system will depend on the variance that is acceptable. If you are unsure if a variance is acceptable, please contact BBS support.
c.Use the figures on the BAS report to fill in your BAS via the Online Services for Business portal, or hard-copy BAS form
7.Enter a creditors invoice for the BAS in the period the BAS ends (eg for a September BAS, enter the creditors invoice with a processing date of 30th of September).
a.Open Creditors Invoice Entry/Maintenance from Main Menu > Creditors > Creditors Invoice Entry/Maintenance
b.Enter the vendor you use for payments to the ATO
c.Use the Document ID from the BAS submitted via the portal or as printed on the hard-copy BAS form
d.Enter the invoice date as the date at the end of the BAS period, enter the total amount to be paid and enter the due date of the payment
e.Use the BAS Report - General Ledger Postings section to determine the disbursements.
i.GST items, both Collected and Paid, excluding GST rounding, should be posted to an account such as 'GST Remitted to the ATO' - usually 230099 in most systems
ii.Other items should be posted to the accounts displayed on the report, or to the accounts relevant to the amounts
Example of Business Activity Statement Report General Ledger Postings Section
f.Save the invoice and update the batch
8.Lock the accounting period to prevent entry of transactions in or prior to the BAS period lodged
a.Open Lock Accounting Periods from Main Menu > General Ledger > End of Period/Year > Lock Accounting Periods
b.Ensure the BAS period lodged is selected from the list and click Lock Accounting Periods
