BAS Assist Report Reference

To access this report select Section|Reports from the main menu, select Tax from the list of report categories and BAS Assist from the list of tax reports.

Field options include:

Reporting Basis

This may be set to accrual or cash. The default is accrual. If you intend to use the cash basis for reporting tax you should consult the topic Cash & Accruals for an overview of the issues related to this type of accounting.

Account List

When ticked the report will include a break down of the general ledger or expense accounts that make up the BAS category total.

Account Type

Indicate the account type to report on. The default is to include all supplier accounts except internal accounts.

The BAS report includes 6 columns explained below:

Category

This is the BAS category you have defined in the BAS Categories Table.

Total Allocated

This is the total allocated to this category. The category itself is made up of the expense codes or general ledger chart of accounts codes assigned to this category.

Tax %

The tax rate that has been assigned to this category. Normally, this should either be 10.00 if GST applies to the category or 0.00 if tax does not apply.

Calculated With Tax

This is the tax rate multiplied by the total allocated to the category. The result is the expected GST that applies to the category. For example: Allocated: $100. Tax = 10%, Calculated with tax = $110.

Applied % Percent

This is the percentage of the category total to consider in determining the final tax amount that applies to the category. If a certain percentage of this category is not claimable (e.g., it is for private use, etc.) the percentage that is claimable appears here. This defaults to 100.0 (fully claimable).

Adjusted Total With Tax

This is the calculated tax amount multiplied by the applied percentage. The result is the expected creditable tax amount for this category.

Tax Variance

Tax variance is the difference between the GST you have actually recorded in your accounting system, versus the calculated GST applied to the BAS category. The calculated GST can be thought of as the "in theory" GST you can claim back, versus the actual amount you can claim back.

Tax variance may be NORMAL. It does not necessarily indicate a problem in your system. It may be impossible to reconcile the tax variance for the reasons outlined below.

For reasons and more information consult BAS Solver

The BAS Assist report must make various assumptions about the nature of your business. Do not rely on the BAS Assist report's numbers unless you understand these assumptions and how the BAS "G Codes" are derived. You may need to consider special factors that apply to your specific business situation. In such cases you may need to adjust the final figures as determined by you or your accountant.

As well, the reliability of the BAS Report's results depend on correctly setting up the BAS Category Table and on operators coding acquisitions and expenses to the correct expense and account codes.

G10 - (capital acquisitions)

This is derived from the total of all account balances assigned to the BAS Category CAPITAL.

G11 - (other acquisitions)

This is derived as follows:

1. Total acquisitions plus the tax percentage applied to those acquisitions are added up.

2. Capital acquisitions are subtracted.

3. An adjustment amount is added (or subtracted) to take into consideration the difference between the GST to claim based on the totals of the taxable BAS Categories, versus the actual GST to claim based on the assignments made to your GST Input Tax account.

IMPORTANT: The amount allocated to your GST Inputs Clearing account is always treated as the true GST amount to be claimed.

G12 - (total acquisitions)

This is the same as G11, except capital acquisitions are not subtracted.

G13 - (input taxed acquisitions)

This is derived from the total of all account balances assigned to the BAS Category INPUTTAX.

G14 - (acquisitions with no GST in the price)

This is derived from non-creditable acquisitions less input taxed acquisitions.

Non-creditable acquisitions are derived from the total of all account balances assigned to BAS Categories for which the tax percentage rate is zero.

G15 - (total of estimated private use of acquisition)

This is derived from the total of all BAS Categories for which a tax percentage rate applies. Subtracted from this is the percentage of non-deductible/private use.

G16 - (total of non-creditable acquisitions)

This is a basic addition as indicated on the BAS report. It is input taxed supplies plus GST free supplies plus non-deductible/private usage of taxed supplies.

G17 - (total of creditable acquisitions)

This is the total of all BAS Categories referencing taxed acquisitions less non creditable supplies and non-deductible/private usage of taxed supplies. This is adjusted by the "true" GST to claim (as per what you have allocated directly to your GST Inputs Clearing account) to determine the "true" value of your creditable acquisitions.

It should, of course, be equivalent to G12 minus G16 as indicated on the calculations of the BAS.

G18 - (adjustments)

This is not used by CAPITAL and consequently not shown on the BAS Assist Report.

G19 - (total of creditable acquisitions after adjustments)

This is not used by CAPITAL and consequently not shown on the BAS Assist Report.

G20 - (G19 divided by 11)

This is derived from the assignments made directly to your GST Inputs Clearing account. It may be adjusted according to the degree of non-deductible/private usage specified. It should, of course, also be equivalent to G17 / 11 assuming a GST tax rate of 10%.

In some cases there may be a slight rounding difference (in the order of a few cents) to take into account that the "true" value of taxable acquisitions must be determined by reference to the GST Inputs Clearing account. It cannot be determined (accurately) by the addition and subtraction procedures indicated on the manual BAS report, as discussed above.