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Level 2

manual BAS liability category

I have only just started using QB and I have to enter an expense category for a BAS payment I had made previously. The BAS was not lodged through QB. How do I adjust/correct this? 

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Best answer 01-21-2020

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Moderator

manual BAS liability category

You're welcome, @piker.

 

Yes, that is correct. Since you firstly Lodge your BAS in QBO before creating a payment, it should result in a negative amount. If the BAS period that you're paying is not recorded in QBO, this will also result in a negative value on the clearing account. 

 

To learn more about Lodging BAS and making payments, you can click on this guide: Lodging BAS Using QuickBooks Online.

 

If I can be of additional help, I'm just a post away. Wishing you well. 

View solution in original post

3 Comments
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QuickBooks Team

manual BAS liability category

Hi piker-

 

If I am understanding correctly, we need to simply record the expense (payment) for the previous BAS not run in QuickBooks Online. No problem, you simple need to record the expense against the ATO Clearing account. This will adjust your BAS expenses appropriately. 

 

Let me know if you have any questions on how to do this. 

 

-Christine

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Level 2

manual BAS liability category

Thanks. I now have a negative (e.g -3500) value in the ATO Clearing Account after that payment is entered. Is that correct? I'm guessing that it will zero out after the first proper BAS is handled through QB?

Highlighted
Moderator

manual BAS liability category

You're welcome, @piker.

 

Yes, that is correct. Since you firstly Lodge your BAS in QBO before creating a payment, it should result in a negative amount. If the BAS period that you're paying is not recorded in QBO, this will also result in a negative value on the clearing account. 

 

To learn more about Lodging BAS and making payments, you can click on this guide: Lodging BAS Using QuickBooks Online.

 

If I can be of additional help, I'm just a post away. Wishing you well. 

View solution in original post