Staying on top of your ATO obligations may be a hassle if you use a paper-based account management system. You’ll need to reconcile your accounts, manually feed that information into your BAS report and submit it by the due date. This process can be both time-consuming and an inefficient use of your resources, particularly without third party support.
However, online accounting software have made the BAS process much simpler. The almost automated process enables you to input data and collate it quickly, produce account statements with a few clicks and even submit BAS reports direct to the ATO.
QuickBooks Online allows users to submit BAS reports by setting up GST and BAS accounts and using journal entries. It also enables you to receive reminders and memos so you can keep on track with your GST obligations year-round.
With automatic reminders of your BAS lodgement dates you will have one less thing to think about, whether you report quarterly, monthly or annually.