BAS/PAYG - Simplified BAS report

JanineJanine Member Posts: 6

Hi,

I am a fairly inexperienced Reckon operator so excuse my limited knowledge!

When I am calculating BAS/PAYG for the quarter I run a Tax Liability report and Payroll Summary to get my figures and also a Simplified BAS report to cross check figures.

On the Simplified BAS for Apr-Jun 21 it has a negative figure for PAYG tax withheld -$612 ?? yet the amount on the Payroll Summary for tax withheld is $2556. All other figures are correct.

Any idea what I can check to see why these figures are not matching up.


Thanks

Janine

Comments

  • Acctd4Acctd4 Accredited Partner Posts: 1,389 ✭✭✭

    @Janine The Simplified BAS report is mapped to tax codes for GST but accounts for Wages & PAYGW. Therefore - along with the liability due - it will also pickup any payment of W2 liabilities at the W2 label.

    I do use the Simplified BAS but to confirm the correct figures, I always run it in conjunction with the following (previously customised & Memorised) reports:

    • Tax Code Summary (configured for Cash/Accrual accordingly, & set to Gross & Without cents for the applicable period eg Last Month/Quarter) - This gives you the specific GST label amounts &
    • Payroll Summary (configured for All Employee Payroll Items for the applicable period & Without cents) - This gives you the W1 label (Adjusted Gross Pay) & W2 (PAYGW)

    TIP: I also configure all my reports to Show negative numbers in bright red. This makes these figures a lot easier to identify!

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper *** (specialising EXCLUSIVELY in Reckon Accounts / Reckon Accounts Hosted!)

    * 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/

    (NB: Please mark your post as Accepted Answer/Answered if I have been able to resolve your query as this helps others when seeking solutions!)

  • JanineJanine Member Posts: 6

    Thanks Shaz !

    Is there a way I can see what else might be under W2 to make sense of the negative figure?

  • Acctd4Acctd4 Accredited Partner Posts: 1,389 ✭✭✭
    edited August 10

    If you run a FastReport on that PAYGW account, you'll be able to see the relevant transactions. As long as I know specifically why it's reflecting as a negative (eg a Debt Payment arrangement in place where regular lump sum amounts are being paid off a prior period debt), I manually overide this W2 label figure in the Simplifed BAS with the correct liability amount (as per the Payroll Summary report)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper *** (specialising EXCLUSIVELY in Reckon Accounts / Reckon Accounts Hosted!)

    * 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/

    (NB: Please mark your post as Accepted Answer/Answered if I have been able to resolve your query as this helps others when seeking solutions!)

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