GST adjustment journal

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  • Problem
  • Updated 1 year ago
I have completed reconciliation of June 18 BAS and lodged with ATO, I have lodged $48485 with ATO.

I had to adjust the amounts due to a couple of errors that I found.  

Tax Detail report currently has $48969.57 tax owing
sales gst $109238.73 purchases gst $60269.16

Balance sheet report totals $48485.71 tax owing

1st error occured due to sales invoice being moved to different BAS period after lodgement.

Adjustment - Sales $2280.30 (inc $207.30 GST)

2nd error occured due to purchases invoice being entered as a credit and amended after lodgement.  

Adjustment - Purchases $3035.74 (inc 275.98 GST)

Not sure what the journal entry needs to look like to get the two accounts to balance equally with each other. 

Thanks in advance

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Hayley Suselj

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Posted 1 year ago

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