ATO payment

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  • Question
  • Updated 1 year ago
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I have just made a payment to the ATO. How to I enter it into Reckon One? I have the GST Collected/Paid/Payable accounts but I don't know how to record the payment.


Thank you
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Mandy

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Posted 1 year ago

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Michael Corrigan

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You would allocate the payment against the relevant liability accounts for GST payable, PAYG tax payable etc based on the BAS you lodged
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Mandy

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Would you mind talking me through that? Do I enter it as a bill?
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Kevin Russell, Accredited Partner

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Nope. You can enter it as a cheque.
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Kevin Russell, Accredited Partner

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Where is your bookkeeper? Reckon one wont teach you accounting. Its just software. Call me if you think I can help. 0407744914
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Lynda Chater

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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