Fuel Rebate

Cheryl Boneham
Cheryl Boneham Member Posts: 17 Reckoner Reckoner
edited April 13 in Accounts Hosted
Is there a way to calculate your fuel rebate in Reckon from your tax receipts.  At the moment I have a separate spreadsheet to calculate my rebate which is double handling. ?

Comments

  • Zappy
    Zappy Accredited Partner Posts: 5,258 Accredited Partner Accredited Partner
    edited May 2020
    Nope. Theres a caluclator on the ATO website. 

    https://www.ato.gov.au/Calculators-and-tools/Host/?anchor=FTCCalc#FTCCalc/questions
  • Cheryl Boneham
    Cheryl Boneham Member Posts: 17 Reckoner Reckoner
    edited April 2020
    I use that but as we can claim for our Machinery and truck I use a spreadsheet each month to key the different rates into the calculator. 
  • Kris_Williams
    Kris_Williams Member Posts: 4,297 Reckon Hall of Famer Reckon Hall of Famer
    edited April 2020
    You could use the memo field when entering fuel payments and write the number of litres and the vehicle, then from a fuel report add up the figures For each type
  • Charley
    Charley Member Posts: 498 Reckon Star Reckon Star
    edited April 2020

    I haven't tried it on fuel but it should be possible to use the 'item' side on write cheques or enter bill and create items (inventory part) for both diesel and petrol and then use the quantity as litres.


    However I haven't thought through what effect that would have on your COGS account and how you would negate it.
  • Charley
    Charley Member Posts: 498 Reckon Star Reckon Star
    edited April 2020

    You could point the COGS account to an expense account but then you would have to figure out the income account and the inventory asset account or perhaps you could point all 3 to the one expense account. As I said I haven't thought this all the way through yet.


    Kevin do have any ideas
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 711 Reckoner Reckoner
    edited April 2020

    Yes you can on write cheques use the ref. no for the litres, on a bill put litres for the month on the memo line.  If you know what fuel went in off-road or On-road set up separate fuel exp./cogs accts, or set up individual vehicle fuel accts.

    Run the report for the fuel acct/s export to excel, manipulate the excel and add the 3 monthly fuel bill amounts off the memo line to the ref column.  Autosum the s/sht, add the x % calulation at the bottom, you now have your required $$ for the BAS.

    If you use a % for your off road, on road, do the same, except the calculation on the s/sht will be the total ltrs x ?% off-road, and total ltrs x ?% on-road.

    This calculation can be easily copied & pasted from the previous qtr excel s/sht.

    Once you do this, don't forget to memorise the report for future use.
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