The BAS Report is used for GST (Australia) and VAT (UK) reporting purposes. The BAS Report will go over your entire ledger and look at your tax flags to calculate your tax. In order to run this report you must only have one Tax account, and you can only use the period range to filter the results. This report does not work with the reconcile method.
If you do not meet this criteria it is recommended that you run a traditional VAT Report: VAT Report / Reconciliation
1. Go to General Ledger > Ledger Inquiry > Reports
2. Ensure that the following is set on the Report Details tab
Select the BAS Report Default
BAS checkbox is ticked
DO NOT tick Excel/CSV
Your account range is set to go over all accounts, from blank to ZZZZ.
3. Ensure that your Selection looks like below and is set to run over your entire production, unless you need to:
Run the report over a certain period range
Run the report over a certain date range. Note: Please read Using MTD and the Date Range Filter about using dates, we do not recommend it.
Do not change any other settings and ensure they look like the settings as below.
DO NOT tick exclude reconciled transactions.
This report will not work with reconciled transactions as your GL will not equal 0.
DO NOT tick calculate net tax amount.
The report calculates this automatically. Ticking this will break the output.
DO NOT tick Bible.
4. Click the Save icon on the Report Details tab after making your changes. Then click the OK button to run the Report. Note: If you do not click the Floppy Disk Save Icon your settings for running the report will not be used.
5. An Excel worksheet will open up and will be populated with four sheets.
A Checklist sheet for you to read
The Ledger export sheet
A GST/VAT Balance sheet
A GST/VAT Statement sheet
6. On the GST/VAT Balance sheet, please make any applicable changes to the sections highlighted in yellow. This may be either the Account Codes or Tax Flag sections which have been highlighted in the below boxes.
Once you have made changes to the account code and tax flags, the figures will be automatically calculated from the ledger export sheet by using the supplied formulas in the cells.
7. If your ledger balance is not zero Ledger Balance [Must = 0] there is a problem with your search range and you have not run your report over your entire ledger.
8. If you have a Balance in the Bal VAT/GST Cell H31 (in this screenshot is it -2,362.62) this means there is a difference between the amount of VAT/GST posted directly into your VAT/GST Accounts compared to the percentage calculation of VAT/GST based on all your NET flagged items.
This difference means that some transactions have been incorrectly flagged with the wrong tax code. You will need to go over your ledger to find and correct these flags.