MYOB has reports that indicate exactly how much GST has been Collected and Paid for both Cash and Accruals accounting methods.
To calculate GST:
- From the Reports menu select Index To Reports
- Select the GST/Sales Tax tab
- Select the GST [Detail – Accrual/Cash] report
- Click Customise
- Select All Tax Codes from the drop-down list
- Select Both Collected/Paid from the drop-down list
- Enter the desired Date From and To
- Under the Finishing Tax, select Tax Inclusive for both Display Sale Values and Display Purchase Values
- Click Display
- All transactions for the period will be sorted by Tax Code. There will be a total Sale Value, Purchase Value, Tax Collected and Tax Paid. These will be the amounts to be entered in the appropriate fields on your BAS.
For further assistance: Contact Melanie Jenkins
Download this MYOB Help Sheet with accompanying images to assist you with each step below…