Paying BAS Amounts

This is the suggested procedure for paying GST at the end of each applicable period:

1. Create a supplier account if you do not already have one, for the Australian Tax Office, for BAS payments. (This only needs to be done once.)

2. When you are ready to pay your BAS raise an invoice under this account in Supplier Entries for the amount you intend to pay.

3. Assign the GST portion to your GST Sales/Payables account. (The suggested account code for GST Sales/Payables is 40350.) and the balance to the relevant Wages Expense for "Withholding Tax" for employees or clearing account whichever you use and Provision for Income Tax for the "Pay as you Go" Portion

4. Enter a payment transaction for the above amount and allocate it to the above invoice right away.