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VAT Returns / BAS Worksheet

VAT Returns / BAS Worksheet

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VAT Returns / BAS Worksheet

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Each period, normally monthly or quarterly you would normally have to create a statement of the VAT/GST due and to be reclaimed

 

Australia - GST / BAS Woorksheet

Select Accounts / Quick Reports / AU BAS Business Activity, confirm the dates and print the report

Capital Purchases will be any purchase transaction with a nominal code starting with 01-04

Wages must have the word WAGES somewhere within the Nominal Description

To exclude any Purchases in Non-Capital Purchase you can use a Other Purchase or Other Income nominal (searting with 07 or 08), or enter # in the Area code of each contact record for who has purchase transactions that you want to exclude

If you pay your PAYG (Tax on Wages) monthly and the GST (transaction tax) quarterly you will need to make manual adjustments. For example you would take just the PAYG amounts for the first two months, and then for the final month in the Quarter you produce the report for the whole quarter, but would need to deduct the first two months payments from the Total for the Quarter.  

 

UK - VAT / VAT RETURN

Select Accounts / Quick Reports / UK VAT Return, confirm the dates and print the report

Notes:

If you sell into or buy from an EU country you should put a E in the area code of the contact and it will calculate the sales in box 8, and the purchase in box 9

If you do not want to charge VAT on sales tax invoices you can set the Tax Over-ride in Contacts / Sale to Zero or Exempt

Box 7 (Total value of Purchases and all other Inputs excluding VAT should not include the following:

Wages and salaries

Tax and NI Contributions

VAT Payments

Insurance Claims

Business and Water rates

Anything else outside the scope of VAT like vehicle licences and MOT certificates

To exclude these figures automatically you should enter # in the Area code of each contact record

 

Verifying the figures

You can then verify those figures from the following reports. The can be produced in one go by Accounts / Quick Reports / Monthly Reports (Tax)

Sales Invoices for the Period

Purchase Transactions for the period (You may need to exclude Contact Area #)

Used Scheme Sale Book