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Level 2

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

 
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Best answer May 02, 2019

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QuickBooks Team

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

Hello there, Melanie6.

 

After lodging the BAS, QuickBooks Online will create a journal entry to move the GST Liabilities payable amount to the ATO clearing account. Let's make sure that the lodgement journal entry has the correct date. This way, the lodgement matches the payment made.

 

Feel free to let us know if you have more questions. Have a good one! 

View solution in original post

8 Comments 8
Highlighted
QuickBooks Team

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

Hello there, Melanie6.

 

After lodging the BAS, QuickBooks Online will create a journal entry to move the GST Liabilities payable amount to the ATO clearing account. Let's make sure that the lodgement journal entry has the correct date. This way, the lodgement matches the payment made.

 

Feel free to let us know if you have more questions. Have a good one! 

View solution in original post

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Level 2

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

Thanks Kristine. The amount is being created in the ATO Clearing account and the payment is being matched to this. However the amount is still also showing in the GST Liabilities.

Any ideas why?

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Level 2

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

HI Kristine, I have now sorted the issue. My apologies. I had misunderstood something about the liabilities. 

Thanks for your help. 

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QuickBooks Team

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

Hello again, Melanie6.

 

I'm glad it's all sorted out. Don't hesitate to visit us again if you have other concerns. Have a great day! 

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Level 1

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

Hey I’m having the same issue can you clarify why the amounts are still payable in the gst liabilities? 

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Content Creator

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

Hi ugsbooks,

 

I have answered this and your other query on your main community thread here.

 

-Kass

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Level 1

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

Hi, I am actually new in Australian company, and have no idea about the ATO, I lodge the BAS in Quickbooks, there will be a Journal entry, then what amount should I pay? Is it the amount in the ATO clearing account?

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Content Creator

How do I reconcile the GST Liabilities payable with payments made? The ATO clearing account is reconciling, but the amounts are remaining in the GST Liabilities Payable?

Hi charlieXIV,

 

When you set up the GST Centre with your own lodgement requirements (frequency, reportable tax agencies and so on) and prepare your BAS in QuickBooks Online, it will total all the transactions you have recorded with GST codes and provide you a figure either owed or owing to the ATO. If you have already lodged this in QuickBooks, you can review this by:

 

  1. On the left, select GST.
  2. Review your lodged BAS periods. You will see the balance due and can also run a BAS report if required by selecting the dropdown arrow to the right, then View BAS Summary (see example below).

 

If you are unclear on your reporting requirements with the ATO however, you will need to reach out to them directly. QuickBooks Online tracks the transactions you have entered into the product to come up with the BAS figure and can't provide advice on what specifically you are required to report. 

 

-Kass