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Jim2® Business Engine Help File

As an importer, you may have elected to have your GST on imports deferred, instead of paying this GST to your customs agent on each shipment. You will see the deferred GST figure embedded in the monthly ECI BAS by the ATO. This deferred GST amount should be entered into Jim (before running the GST session) as follows:

Add a new account to the GST Liabilities area of your general ledger, eg. 2-1350 GST Deferred on Imports (if it is not already set up) with a default tax code of X.

Add a General Journal – BAS Type Purchase (Acquisition). We will use a figure of $5,000.00 in this example, and the GL account numbers may also be different in your general ledger. Debit 2-1330 GST Paid $5,000.00 tax code F and credit 2-1350 GST Deferred on Imports $5,000.00 Tax Code X.

GST import

You have now recorded the deferred GST and, using Tax Code F, Jim2 will gross up that amount to record total purchases including GST to $55,000.00. This was the deemed value of the goods at the time they cleared customs – including the GST charged.

The deferred GST figure will flow through to 7A in GST Sessions in Jim2, and is included in the G11 figure for total non-capital purchases.

GST import1

When you actually pay the ATO, you should enter the payment as follows:

Cr 1-1110 Bank Account

Tax Code X

Total amount of payment

Dr 2-1310 GST Collected

Tax Code X

Total GST Collected on Sales

Cr 2-1330 GST Paid

Tax Code X

Total GST Paid on Purchases

Dr 2-1350 GST Deferred

Tax Code X

Total GST Deferred on Imports

Dr 2-1410 PAYG Payable

Tax Code X

Total PAYG Withheld from wages


Further information: