### BAS reconciliation form

# BAS Reconciliation form

The BAS Reconciliation form (you will find this on your precedents list) needs to be completed at the end of the financial year. This is a part of the EOFY processes on the Checklist for End of Financial Year Quarter

Okay - this one is fairly easy and I like to have it done in June as it takes between 5-15 minutes off your EOFY checklist routine. By the way, we will cover this in detail on the EOFY Refresher days, but you will need to have one of these done for each of your clients before then. It doesn't matter which software you're using, it's the same form.

Obviously, if you're client is not registered for GST, you don't need to do one of these forms.

# BAS Reconciliation form

The BAS Reconciliation form (you will find this on your precedents list) needs to be completed at the end of the financial year. This is a part of the EOFY processes on the Checklist for End of Financial Year Quarter

Okay - this one is fairly easy and I like to have it done in June as it takes between 5-15 minutes off your EOFY checklist routine. By the way, we will cover this in detail on the EOFY Refresher days, but you will need to have one of these done for each of your clients before then. It doesn't matter which software you're using, it's the same form.

Obviously, if you're client is not registered for GST, you don't need to do one of these forms.

### Filling out the BAS reconciliation form

# Filling out the BAS reconciliation form

So, you will have already pre-filled the BAS reconciliation form for the previous quarters that have been lodged. You need to write in the GST on Sales and GST on Purchases, write in the GST amount only. Then in the GST Paid/Refund column, write in the GST paid amount or the GST refunded amount which needs to have brackets around it, i.e. the amount of GST refunded was (This reminds you to ‘minus’ it.) Total the first 3 quarters and double check your totals by adding the total GST paid/refunded and the totals for the quarter – add down and across to double check

Okay, it's a little confusing, I know, so review the example here.

The example shows the lodged JULY/SEP figures (which you wrote on your finalisation checklist!)

# Filling out the BAS reconciliation form

So, you will have already pre-filled the BAS reconciliation form for the previous quarters that have been lodged. You need to write in the GST on Sales and GST on Purchases, write in the GST amount only. Then in the GST Paid/Refund column, write in the GST paid amount or the GST refunded amount which needs to have brackets around it, i.e. the amount of GST refunded was (This reminds you to ‘minus’ it.) Total the first 3 quarters and double check your totals by adding the total GST paid/refunded and the totals for the quarter – add down and across to double check

Okay, it's a little confusing, I know, so review the example here.

The example shows the lodged JULY/SEP figures (which you wrote on your finalisation checklist!)