GST Session Worksheet Tab

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The Worksheet tab includes a range of fields that form the GST calculation sheet. Each field is labelled with codes equivalent to those that appear on the Australian Taxation Office issued BAS statement, as displayed below. Most of the Worksheet tab values are calculated from the transactions to be included in a GST session, and are based on the tax codes allocated in every transaction in Jim2. Therefore, all tax code allocations must be performed with careful consideration.

 

For more information on the tax codes used in Jim2, see Setup > Tax Codes.

 

gstworksheet

 

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Always take a few minutes to review the figures in the worksheet before completing the BAS. Do they look correct? Are there any values in fields where there should not be values, such as G2 when there are no export sales?

 

Once you have selected the transactions and saved the current GST Session you should then work from the By Tax tab.

 

The transactions are grouped into two main sections, the first being those that are In Session Reconciled, ie. selected in the saved session.

 

The transactions are then grouped by Type and Tax Code, ie. they display the details of the results in the Worksheet.The sub-groups are:

PAYG (wages)

Purchases

Sales

 

Lower down are those transactions Not In Session, which fall after the selected date range, so can be ignored for this purpose.

 

Under Purchases, they appear in this order:

Transactions where Tax Code X was used – a quick look down that section should identify any entries where X is incorrect. You can right click to view the transaction.

Transactions where Tax Code C was used – Capital Acquisitions.

Transactions where Tax Code N was used – reportable expenses but no GST.

Transactions where Tax Code G was used – reportable expenses with GST.

Transactions where Tax Code Y was used, if you import goods.

 

So, you are checking according to the Tax Code used rather than the transaction type. It is designed this way so the By Tax tab correlates with the results on the Worksheet.

 

From the Worksheet tab, a hard copy of the GST Calculation Worksheet report can be printed for transferring the figures to the BAS.

 

gstreports

 

Jim2 can calculate GST on a monthly or quarterly basis using either the cash or accrual method. For more information on how to configure the GST calculation basis, see the section on GST Sessions and the BAS. The calculation basis is normally provided by the ATO.

 

Either the company or company accountant will have registered the business with the ATO, advising them of the business activity. There will be the option of lodging the BAS as a written document or as an electronic form. The BAS layout will differ depending on which taxes are applicable to the registration, and when they are actually payable.

 

For businesses that lodge a monthly Instalment Activity Statement (IAS) for PAYG withholding on wages, please see the section on IAS Monthly PAYG Lodgement.

 

hmtoggle_arrow1GST owed to the ATO from sales

 

hmtoggle_arrow1GST amounts the ATO owes from purchases

 

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Note: The figure in G1 includes GST and will not match the income figure in the P&L for the same period as the P&L does not include GST.

 

hmtoggle_arrow1PAYG tax withheld (from wages) amounts owed to the ATO

 

The following instructions are for accrual reporting only.

 

hmtoggle_arrow1PAYG income tax instalment

 

hmtoggle_arrow1Amounts owed to the ATO, made up of:

 

hmtoggle_arrow1Amounts the ATO owes, made up of:

 

If the amount at 8A is more than 8B, then this amount is payable to the ATO.

 

If the amount at 8A is less than 8B, then this amount is refundable (or offset against other tax debt).

 

If there are any further questions or clarification required regarding the GST and the BAS report please contact the company's accountant or the ATO.

 

Quality

The GST reports found under Management > Reports pre-date the introduction of GST sessions and were designed for the Accrual method only. All transactions are automatically included to calculate liability, and these reports do not reconcile transactions. These legacy GST reports have been renamed as GST [reportname] (old) and should not be used. Happen advises using GST sessions to calculate GST liability.

 

Further information

Fuel Tax Credits

GST Reports

GST Reports for Accountant

GST Session Checks

GST Session By Tax Tab

GST Session FAQ

GST Session PAYG Tab

GST Session Purchases Tab

GST Session Sales Tab

IAS Monthly PAYG Lodgement

Initial GST Session

Change GST from Cash to Accrual

Complete a GST Session: Accrual Method

Complete a GST Session: Cash Method

Complete an NZ GST Session

Handle NZ GST in Australian Database

Record Deferred GST on Imports

Record Your BAS Payment/Refund to ATO

Delete a GST Session