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GST REFUND, PAYG PAYMENT AND PAYG INCOME TAX INSTALMENT TO PAY

How do I enter a refund from ATO for GST and also show that the PAYG liabilities have been taken out of the refund ie refund of $48K 2 PAYGs of 14K refund =$32K

Comments

  • Acctd4Acctd4 Accredited Partner Posts: 936 ✭✭✭

    Hi Jenny

    You'll need to enter it as a multiple-line Deposit with positive line(s) for the Refunded components & negative line(s) for the payable components.  However, because Payroll is a separate section within RA, this transaction only corrects the Payroll Liability account, not the Payroll Items.  Therefore, in addition you'll also need to adjust the PAYG Payroll Liability Item by the Refund amounts too in order to ensure the accuracy of your Payroll reports.  You'll find this section under the Employees dropdown menu >  Payroll Taxes & Liabilities > Adjust Payroll Liabilities.  Note it will be a Company Adjustment & the Effective Date needs to be within the correct BAS period that it relates to (eg 31/12/20 for the Oct-Dec 20 BAS):



    Under Accounts Affected, ensure you select Do not effect accounts as your Deposit has already taken care of the accounts side!

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Partner (AP) Bookkeeper * Regd BAS Agent (No: 92314 015) *

    ICB-Certified Bookkeeper * Seasonal Tax Consultant since 2003

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://www.accounted4bs.com/

  • Acctd4Acctd4 Accredited Partner Posts: 936 ✭✭✭
    edited February 15

    (NB You can enter multiple lines on the adjustment, I just wasn't sure of the correct figures from your post as the amounts you've stated don't add up ?)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Partner (AP) Bookkeeper * Regd BAS Agent (No: 92314 015) *

    ICB-Certified Bookkeeper * Seasonal Tax Consultant since 2003

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://www.accounted4bs.com/

  • Acctd4Acctd4 Accredited Partner Posts: 936 ✭✭✭
    edited February 15

    @Rav The sizing issue for attachments is still present as per above. 

    I thought this was being fixed some time ago ?  Any update on that?

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Partner (AP) Bookkeeper * Regd BAS Agent (No: 92314 015) *

    ICB-Certified Bookkeeper * Seasonal Tax Consultant since 2003

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://www.accounted4bs.com/

  • Jenny ByrneJenny Byrne Member Posts: 11

    Thanks Shaz. I just made up those figures. We have only ever a GST refund once and I have forgotten how to do it. As soon as the refund is in the bank I will do it.

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