Under PAYG income tax instalment (Option 1), input your PAYG instalment (copy from BAS) amount provided by the ATO.
Note: This input doesn’t impact the books or BAS calculation.
To report your PAYG installment on your BAS using installment method
- Under Amount you owe the tax office, select the blue Record link.
- Record an adjustment on line 5A.
- Input the amount owed in Adjustment amount.
- Select your Adjustment account, check the Adjustment date, and then add any memo details as required.
- Once you save the adjustment, the amount you owe will then display on your BAS.
If you need to report a variance to what the ATO is expecting
- Under PAYG income tax instalment (Option 1), input the following:
- Estimated tax of the year
- varied amount for the quarter
- Reason code for variation (refer to list of codes)
Note: These inputs don't impact the books or BAS calculation
- To actually claim variance, under Amounts the tax office owes you, record an adjustment on Line 7C. When you mark BAS as “lodged”, QuickBooks will post any instalment amounts owed against the BAS Suspense account.