Before producing a Business Activity Statement, we suggest that you may want to print the following Tax Reports to get data for the Business Activity Statement for the tax period:
- GST (Full Report)
- Wages Tax Deductions (Details)
- Fuel Tax Rebate (Details)
- Instalment Income Tax (Details) – if in use
- Withholding Tax Deductions (Details)
All reports must be examined in full to ensure that they are complete and correct before printing the Business Activity Statement, which is the summary of these reports. We recommend completing the Reconciliation first then use the following Tax Reports to ensure accurate data prior to starting the BAS process.
- From the Home Page, click on Cashbook
- Click on Report then Tax Reports
Click on Tax ReportsNOTE: If a report in the Tax Reports window is grey, no data has been entered into the Cashbook to fit that report or the Tax Setup needs additional input.
GST (Full report)
Shows lines of detail group tax by categories. For example, the report lists all the tax collected for each invoice you issued to customers. You will also see lists of tax-free items (such as interest) and wage tax withheld.
Instalment Income Tax (Details)
Used when the ATO requires a business to pay PAYG Income Tax Installments. Refer to your accountant for additional advice.
Wages Tax Deductions (Details)
Used by businesses that pay employees and withhold tax from the salary or wage.
Withholding Tax Deductions (Details)
Used when the supplier with no ABN has been paid and taxes were withheld on behalf of the ATO. The report totals the amount paid to the supplier and to be paid to the ATO.
Fuel Tax Rebate (Details)
Lists fuel by the number of litres of diesel and petrol. Estimates the fuel tax credit based on the percentages of business and private use in the Setup > Tax section. The litres for each purchase are required to claim the tax rebate.
Using these reports allows you to report and verify that all of the income and expenditure have been correctly entered and will fall into the correct section. If there are any errors, you will need to utilise Repair Past to repair the transaction.
Once the above reports have been printed and viewed, we recommend you print the report - BAS (View and Print Only). This will need to be checked by the required parties.
- In the Tax Reports window, choose BAS (View and Print only)
- Click on
- At the Tax Reports window, click No
- Click on Print
Once the draft report has been reviewed and your accountant has provided tax guidance, you are now ready to finalise the BAS. For more information, read Print And Close A BAS Period
If your accountant is closing the BAS for you, we recommend sharing your Agrimaster file with them. For instructions on how to share your file, read Sharing An Agrimaster File With File Manager