Reporting Dates for Cash Basis GST

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CDK
CDK Member Posts: 9 ✭
in Accounts Hosted

I have a client who has years of unapplied credits and adjustments. He is on Cash Basis GST. I am going through now and applying the credits to tidy up his accounts so that he doesn't have heaps of open transactions on his report. At what date will the GST report? I can't see any of it at today's date. On the customer side, I tried using the payments screen and putting in today's date but I still can't see any of those transactions on the GST report. Will they now be applied back historically, e.g. in 2004, 2005 etc, the dates on the credits and invoices??

Best Answer

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,432 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    Answer ✓
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    On a Cash basis, ALLOCATED payments in RA/RAH are recognised on the payment received (or Credit allocation) date.

    As previously suggested, I would be checking the BASs for the open invoice periods to ensure the invoice amounts weren’t actually reported back then (eg in case the client used to report on Accruals historically!)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

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

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)

Answers

  • CDK
    CDK Member Posts: 9 ✭
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    Are you saying that they would have been reported back when they were created?

  • Bruce
    Bruce Member Posts: 442 Professional Partner Professional Partner
    edited April 2022
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    It is not possible for anybody here to make any comments about what has or has not been reported previously.

    In addition, given your initial comments suggesting that your client's records are in a mess, you should not assume that was been reported is (correctly) recorded in the books.

  • CDK
    CDK Member Posts: 9 ✭
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    Thank you all for your comments. Was only after a technical answer, and now I have it.

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