ATO payment


Thank you
Comments
-
You would allocate the payment against the relevant liability accounts for GST payable, PAYG tax payable etc based on the BAS you lodged0
-
Where is your bookkeeper? Reckon one wont teach you accounting. Its just software. Call me if you think I can help. 04077449140
-
Would you mind talking me through that? Do I enter it as a bill?0
-
Nope. You can enter it as a cheque.0
-
Hi Mandy
To record your BAS payment. Process the cheque as a payment to your ATO integrated client account. (This looks like it is a standard account now just under your GST accounts)
You will also need to do a end of the quarter journal entry to clear your GST paid and GST collected accounts.
In day to day there is a journal entry account
GST Collected (the gst from your sales) DR
GST Paid (the gst from your expenses) CR
PAYG Withheld (If you have employees) DR
ATO integrated client account this one is either DR or CR depending on the above entries balance
In the end the ATO integrated client account will have a nil balance
Hope this helps
Lynda
0