These steps finalise your Business Activity Statement (BAS) for this period. You have prepared for closing your BAS by printing and reviewing a draft report. Your accountant has provided tax guidance and you are now ready to finalise the BAS.
Agrimaster will automatically create entries for payment sent to the ATO or refund to be received from the ATO.
- Complete the steps in Print And Review BAS Report. Consult with your accountant for any changes prior to closing the BAS period.
- Click on Home.
- Click on Cashbook.
- Click on Report and choose a report that answers a management question.
- Click on Tax Reports.
- When running the preliminary (draft) report, choose BAS (View, Print, Close Tax period).
- Click on the green tick.
- At the Tax Reports REMINDER window, click No.
- The Business Activity Statement opens & click on Print.
- Click on the black cross to close.
- At the Tax Reports window, click Auto create a transaction using the data at left.
- Click on the following 5 buttons to close each part of the BAS period.
- At the Tax Reports window, click on the black cross to close.
- Match the totals in the printed reports to the sections in the red and white BAS form supplied to you from the ATO. Use the BAS form instructions and options provided by the ATO. Keep copies of both the Cashbook BAS Report and your completed BAS form.
Tip – Automatic BAS Processes
In the background, Agrimaster has created a transaction with all of the rows (splits) for the BAS period. No changes should be made to this transaction. The automatic transactions are used at the end of tax year Tax Reports.