Now you can prepare and lodge your BAS straight out of QuickBooks online if you have GST or PAYGW obligations. You’ll no longer need to copy your BAS information into paper forms or login to the ATO business portal or MyGov.
Once you’ve prepared your BAS in QuickBooks Online for the specific reporting period, you just need to follow a few simple steps to connect to the ATO and submit your BAS.
Watch this video on how to setup GST for BAS:
Watch this video on how to prepare and lodge your BAS:
Will PAYGW be automatically populated?
Yes, if KeyPay is enabled. If an alternative Payroll solution is used then QuickBooks will allow you to manually input PAYGW information.
What about PAYGI, FBT Fuel Tax Credit, Luxury Car Tax and Wine Equalisation Tax obligations?
Automation for these taxes is coming. At the moment you will need to manually add these obligations to your submission.
What happens in QuickBooks once I e-lodge to the ATO?
The following steps take place once your BAS is lodged:
1. The BAS/IAS will be marked as lodged.
2. Appropriate journal entries created
3. A copy of BAS/IAS attached to the journal entry created
4. You will be shown a confirmation page with payment details and the payment due date
5. You will then need to record the payment once a payment is made