United States United Kingdom Australia Canada (English) Canada (French) France Singapore South Africa Global Ireland
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
alisoncplatt
Level 2
posted
‎April 14, 2020 10:20 AM
last updated ‎April 13, 2020 5:20 PM

BAS is rounded but ATO has paid refund including cents - how to input?

The BAS has always been rounded to the nearest dollar (in my history of BAS processing). However they have just paid us a refund including cents so the figure does not match the pending amount on QB. How do I resolve this?
Solved
Reply
Best answer April 14, 2020
Solved

Best Answers
Kass_B - Product Champion
Content Creator
‎April 14, 2020 11:30 AM

BAS is rounded but ATO has paid refund including cents - how to input?

Hi alisoncplatt,

 

If the amount the ATO has refunded does not match what has been recorded in the GST centre, you could record the total payment from your bank feed to a petty cash or 'workaround' account, then record the payment in the GST centre from that account.

 

  1. Go to the Banking tab and select the refund to expand it.
  2. Select a category to record this to (eg a Petty Cash account, or you could create your own cash account called 'Workaround' or so on) and Add.
  3. Go to the GST tab and select Record Refund on the relevant BAS. 
  4. Enter the amount that is recorded as owed in the GST centre and From account as the workaround account, then Save.

 

You will have a balance of the cents amount left over in this 'workaround' account. You can choose if you want to journal this elsewhere or leave as is. Feel free to reply if you have further questions, I'm here to help.

 

-Kass

 

 

View solution in original post

Reply
2 Comments 2
Kass_B - Product Champion
Content Creator
‎April 14, 2020 11:30 AM

BAS is rounded but ATO has paid refund including cents - how to input?

Hi alisoncplatt,

 

If the amount the ATO has refunded does not match what has been recorded in the GST centre, you could record the total payment from your bank feed to a petty cash or 'workaround' account, then record the payment in the GST centre from that account.

 

  1. Go to the Banking tab and select the refund to expand it.
  2. Select a category to record this to (eg a Petty Cash account, or you could create your own cash account called 'Workaround' or so on) and Add.
  3. Go to the GST tab and select Record Refund on the relevant BAS. 
  4. Enter the amount that is recorded as owed in the GST centre and From account as the workaround account, then Save.

 

You will have a balance of the cents amount left over in this 'workaround' account. You can choose if you want to journal this elsewhere or leave as is. Feel free to reply if you have further questions, I'm here to help.

 

-Kass

 

 

Reply
alisoncplatt
Level 2
‎April 16, 2020 11:27 AM

BAS is rounded but ATO has paid refund including cents - how to input?

Hi Kass

That worked perfectly - thanks so much!

Best regards

Alison

Reply