Reckon One BAS payment with CFB

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  • Updated 2 months ago
In Reckon One, I am trying to record my Jan-Mar BAS thru the Tax > BAS tab.  How do I include the Cash Flow Boost [COVID-19] to show the $10,000 CR in the report?
Cheers, Nicole.
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Posted 2 months ago

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Felicity Bleckly

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We haven't got ours yet lost in the system but coming. Use a journal to Enter the amount you receive to bank account DR and Other Income CR. Ours will be less than $10000 because the amount owing for BAS was deducted first. If you have the same issue you now need to clear your BAS as having been paid. So pay your BAS to a suspense account then contra from Other Income account. This will clear the suspense account to $0 and your other income account will show $10000. You could set up a Stimulus Income account or some such name. You could do all this in one journal which you enter when you receive the funds in your bank account. The $10000 is gst free.